Tuesday, 2 December 2025
The Czech industrial real estate market continued its recovery in the third quarter of 2025, recording its strongest quarterly performance in three years. According to data from Colliers, 130,800 m² of new industrial space was completed in Q3, bringing total new space for the year to 475,400 m² and increasing the overall market size to nearly 12.9 million m². This represents year-on-year growth of 5%.
Colliers notes that construction activity remains elevated, with almost 1.8 million m² currently under development. Prague and Central Bohemia account for 25.3% of space under construction, followed by the Moravian-Silesian Region (17.2%) and the Karlovy Vary Region (17.1%). In Karlovy Vary, the high share is primarily due to a single automated warehouse project in Cheb exceeding 200,000 m².
Beyond ongoing construction, the pipeline of future projects is substantial. “In addition to spaces under construction, there are also a significant number of projects in various stages of approval, as well as spaces for which zoning decisions and building permits have been issued. Nearly 2.8 million m² have been approved and are ready for construction. Another 2.6 million m² are awaiting zoning or building permits. The total volume of potential projects is therefore approximately 5.4 million m², with what is under construction exceeding 7 million m²,” says Miroslav Kotek, head of the industrial real estate department at Colliers.
Vacancy in existing warehouses remained just below 4% in Q3, totalling around 512,500 m²—up 94 basis points year on year. Despite the low headline vacancy rate, availability is improving due to speculative development.
“Despite this low vacancy rate, there is sufficient space available on the Czech market, as more than 50% of all properties under construction are vacant. They represent 887,200 m² of modern industrial space available in the near future,” explains Kotek. Speculative construction is concentrated in Prague and Central Bohemia (235,200 m²), the Ústí Region (176,000 m²), and the Moravian-Silesian Region (160,300 m²).
Gross take-up reached 608,900 m² in Q3, 29% above the five-year average, while net take-up totalled 470,400 m²—56% above the five-year average. Both metrics were the highest since Q2 2022.
Total gross demand in the first three quarters of 2025 amounted to 1.43 million m², slightly above the five-year average and only 20,000 m² short of matching the full-year 2024 result. Net demand reached 829,900 m², in line with the five-year average and around 50,000 m² below last year’s total.
Prime rents remained unchanged for the fifth consecutive quarter, standing at EUR 7.00–7.50/m²/month. Office mezzanine rents range between EUR 9.50 and 12.50/m²/month, with service charges typically between EUR 0.75–1.00/m²/month.
“The highest achievable rent has remained at the same level for five quarters. However, we are increasingly seeing tenants in a stronger negotiating position, which is reflected in more generous incentives offered by landlords in all regions,” notes Kotek. He adds that in markets that have expanded quickly—such as the Moravian-Silesian Region—rents are experiencing gradual downward adjustments due to mild oversupply.
Industrial real estate remains a key target for capital, accounting for 31% of all investment transactions in 2025 to date.
Source: Colliers
