Industrial Research Forum Announces Industrial Market Figures for Q4 2025
- Modern industrial stock in the Czech Republic reached 13.28 million sq m.
- Gross take-up jumped to 642,000 sq m, with volumes for the entire year nearly reaching 2.1 million sq m. Net demand for the entire year reached 1.23 million sq m.
- At the end of Q4 2025, 1.25 million sq m of industrial space was under construction, remaining in line with the last quarter, with one-third expected to be delivered in Q1 2026.
- The vacancy rate reached 4.8%, up by 101 basis points year on year.
- Prague’s highest achievable rent remained stable for the fifth consecutive quarter, standing at €7.00–€7.50 per sq m per month.
COMMENTARY
Jan Hrivnacky, Head of Industrial Leasing, CBRE, comments:
“The year 2025 ranked as the third-best year in terms of demand. Contrary to expectations, demand continued to be driven primarily by manufacturing companies, many linked to the automotive sector. At the same time, we observed a recovery in demand from retailers and the e-commerce segment — a trend we expect to continue throughout this year. However, it is also important to consider how long such a high level of demand can remain sustainable. As expected, vacancy rates have begun to rise in several regions. This may put pressure on rental levels in these areas and similarly affect future development activity. As a result, we may see a partial return to the pre-2021 environment, when a significant share of new construction consisted of BTS projects.”
TOTAL STOCK & NEW SUPPLY
The total stock of modern industrial space for lease in the Czech Republic reached 13.28 million sq m. In Q4 2025, 229,000 sq m of new warehousing space was delivered to the market across 11 industrial parks. This represents a 75% increase compared to the previous quarter. The largest new completion this quarter was Industrial Park Nymburk (40,000 sq m), which was fully leased to Linde Wiemann. The second largest completion took place in Brno, where CTP completed a 36,000 sq m building for Hitachi Energy.
For the whole year, almost 813,500 sq m were newly delivered to the market, representing a 53% increase compared to 2024 volumes (532,900 sq m). The largest newly completed building overall was a 57,200 sq m property in Panattoni Park Ostrov – North, completed in Q1 2025 and fully pre-leased by ZF Automotive back in 2023.
PROJECTS UNDER CONSTRUCTION
At the end of Q4 2025, a total of 1,253,300 sq m of warehouse and manufacturing space was under construction in the Czech Republic.This represents only a decrease of -0.2% quarter on quarter and an increase of 22% year on year.This volume should, however, shrink significantly, as 430,000 sq m are scheduled to be delivered in Q1 2026.
The share of speculative construction decreased quarter on quarter to 27%.In Q4 2025, construction started on approximately 217,500 sq m of modern industrial space, only 11% of which was on a speculative basis. In addition, there is around 341,500 sq m of vacant space currently in the shell & core stage, awaiting completion once a tenant is secured.
INDUSTRIAL TAKE-UP
Gross take-up (including renegotiations) was 642,000 sq m in Q4 2025, This represents a 4% increase compared to the previous quarter and a 47% year-on-year increase. The share of renegotiations within total year-to-date gross take-up increased to 40%. For the entire year, gross take-up reached nearly 2.1 million sq m.
Net take-up in Q4 2025 amounted to 371,500 sq m, decreasing 22% quarter on quarter and increasing by 69% year on year. Overall net take-up for the whole year amounted to over 1.2 million sq m. This represents the 3rd strongest year on the Czech market in terms of new demand. For the entire year, including undisclosed transactions (6% of the total net take-up volume), the main drivers were manufacturing companies, accounting for over 49% of the net demand, followed by distribution companies (retail, e-commerce) with 25% and 3PL with 16%; the remaining 5% came from companies in other sectors.
The largest new transaction this quarter was by a distribution company in Panattoni Park Most Joseph, where it leased 51,900 sq m. The second largest was a pre-lease signed in Garbe Park Klášterec nad Ohří II by Reckitt, which leased 35,000 sq m. The largest renegotiation this quarter took place in P3 Prague D1, where a 3PL company renewed its 46,300 sq m premises. The largest new transaction in the year as a whole was done by VAFO Praha in VGP Park České Budějovice in Q3 2025, where it pre-leased a future development (54,600 sq m).
VACANCY
At the end of Q4 2025, the vacancy rate in the Czech Republic stood at 4.77%, representing a year-on-year increase of 101 basis points. As of the end of December 2025, there was nearly 633,600 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 2.6% at the end of Q4 2025. The highest vacancy rate is currently in Moravia-Silesia, at nearly 14% (193,600 sq m).
RENT
Prime headline rents remained stable at around €7.00–€7.50 per sq m/month in the Czech Republic in Q4 2025. Selected prime locations outside of Prague follow a similar trend, achieving around €5.60–€6.60 sq m/month. Rents for mezzanine office space stood between €9.50–€12.50 sq m/month. Service charges typically range around €0.75–€1.00 sq m/month.