Industrial Research Forum Announces Industrial Market Figures for Q3 2025
- Modern industrial stock in the Czech Republic reached 12.86 million sq m.
- Gross take-up jumped to 608,900 sq m, net-take up now accounts for majority of year-to-date demand.
- At the end of Q3 2025, almost 1.3 million sq m of industrial space was under construction, which was the highest volume since Q3 2023.
- The vacancy rate stayed around 4.0%, up by 94 basis points year-on-year.
- Prague’s highest achievable rent remained stable for the fourth consecutive quarter, standing at €7.00-7.50 per sq m per month.
COMMENTARY
Miroslav Kotek, Head of the Industrial Agency team at Colliers, comments:
“The third quarter of 2025 was significantly livelier than the rest of the year. While vacancy rates and base rents remained more or less stable, robust construction and market demand showed that the market remains strong. Although new construction continues to decline, in the context of the decreasing number of shell & core buildings, we see developers’ efforts to provide tenants with flexible conditions. The size of demand and the significant increase in the ratio of new leases signal that the Czech Republic is not playing second fiddle to the Polish or Hungarian markets. At the same time, in locations with higher vacancy rates or a large supply of speculative construction space, we are seeing a gradual decline in base and effective rents, which further strengthens local competitiveness.”
TOTAL STOCK & NEW SUPPLY
The total stock of modern industrial space for lease in the Czech Republic reached 12.86 million sq m. In the Q3 2025, 130,800 sq m of new warehouse space was delivered to the market across twelve industrial parks. This represents a 1% decrease compared to the previous quarter. Year-on-year new supply decreased by 20%.
The largest completed industrial hall in Q3 2025 was located in CTPark Blatnice (27,200 sq m) fully leased to Redcare pharmacy. The second largest project was partial completion of a hall in CTPark Prague North (19,000 sq m) leased by multiple tenants. The third largest completed project was in DMC Paskov (13,500 sq m) leased to Lenzing Biocel.
PROJECTS UNDER CONSTRUCTION
At the end of the Q3 2025, a total of 1,264,700 sq m of warehouse and manufacturing space was under construction in the Czech Republic. This represents an increase of 3% quarter-on-quarter and 22% year-on-year. As in the previous quarter, approximately 30% of the total space under construction was located in Prague and the Central Bohemian Region, followed by the Karlovy Vary Region with a 21% share.
The share of speculative construction slightly decreased quarter-on-quarter to 35%.In Q3 2025, construction started on approximately 109,400 sq m of modern industrial space, 42% of which was on a speculative basis.
In addition, there are around 506,100 sq m of space currently in shell & core stage, awaiting completion once a tenant is secured.
INDUSTRIAL TAKE-UP
Gross take-up (including renegotiations) was 608,900 sq m in Q3 2025, year-to-date reaching 1,426,100 sq m thus almost overtaking full-year 2024 demand. This represents a 100% increase compared to the previous quarter and a 82% year-on-year increase. The share of renegotiations within total year-to-date gross take-up dropped to 41%.
Net take-up in Q3 2025 amounted to 465,900 sq m, reflecting a 175% quarter-on-quarter increase and a 129% increase year-on-year.
The three largest deals were all done by undisclosed tenants. First was a tenant who pre-leased 54,600 sq m of space in VGP Park České Budějovice. The second largest was a new lease signed in Prologis Park Jirny by a wholesale distribution company, covering 52,200 sq m. The third largest transaction was an expansion of an automotive producer in Panattoni Park Ostrov North signed for additional 46,500 sq m.
VACANCY
At the end of the Q3 2025, the vacancy rate in the Czech Republic stood at 4%, representing a year-on-year increase of 94 basis points. As of the end of September 2025, there were nearly 512,500 sq m of modern industrial space available for immediate occupancy. Vacancy in Prague and the Central Bohemian Region has consistently remained below the national average, reaching 2.2% at the end of Q3 2025.
RENT
Prime headline rents remained stable at the level of around €7.00 – €7.50 sq m/month in the Czech Republic in Q3 2025. Selected prime locations outside of Prague follow a similar development, achieving around €5.60-6.60 sq m/month. Rents for mezzanine office space stand between €9.50 – €12.50 sq m/month. Service charges are typically around €0.75–1.00 sq m/month.