Lease rates of office space in the Czech Republic are amongst the lowest in the world.

Post date: Dec 18, 2017 8:53:14 AM

Lease rates of office space in the Czech Republic are amongst the lowest in the world. 

Analysis of the results of the annual poll of the Cushman & Wakefield’s Company, which inspected 215 cities in 58 states results in the conclusion that Prague offers a relatively inexpensive work environment for businesses. Office space in Prague is roughly 90% cheaper than that of Hong Kong, considered to be the most expensive city in the world – a yearly cost of 3200$ in Prague, compared to 27,432$ in Hong Kong for every workstation. The annual poll of the company made use of a new system this year and so the results cannot be compared to earlier years. The new system calculates the lease rates, the service fees, and the number of square meters of office space allocated to every employee.

Prague was ranked the second most inexpensive city for business in Europe after Bratislava (the capital of neighboring Slovakia) due to the following fact – the monthly rent in the highest quality offices in Prague is no higher than 21 Euro per square meter. The expectation is that no more than 400,000 square meters of new office space will be added in the next two years so that no significant price rises are expected. Nonetheless, Prague has only reached second place due to another fact- employees in Prague enjoy less average work space than in other cities (10 square meters in Prague compared to a worldwide average of 11.8 square meters). 

New office space areas in Prague. 

At the moment, many new projects in Prague are being constructed that will include offices. These include Smichov City in Prague 5, the Flower House in Vaclav Square, the Rosetta Palace on Jungmannova street, the Drn project at the corner of Národní třída and Mikulandsk – a number of projects near the metro stations Pankrác and Pražského povstání (Masaryk Railway Station), and also spaces in historical buildings in Prague 1 that will be refurbished and become offices. The area around Masarykovo nádraží is also expected to develop and include a shopping center and offices. 

Below is a list of the cities where it is most expensive to rent out office space. The stated price is the rounded rental fee per year for every work station. 

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