Published 27. 1. 2011

Record met on the Czech industrial market in 2010

The industrial market fared exceptionally well in terms of leases last year. Occupiers signed deals for some 845,000 square metres of modern industrial space nearly reaching the peak levels of 2007 (855,000 sqm). Conversely, in terms of new construction, the market hit its lowest point since 2004, and there has been almost no new construction since Q3 2009. As a result of the high demand and low supply, the vacancy rate has dropped to 10.6 per cent.

In regional terms, companies were most interested in Prague and the Pilsen Region in 2010. The latter posted the greatest decrease of vacancy rate, with the percentage of available space dropping by about 13.5 per cent to the current 11.2 percent over the last twelve months. The Moravia-Silesia Region also posted a major decrease in the second half of the year, with about 16.8 per cent of high-tech industrial space currently available. The most important deals of the last quarter were new leases, Brose at ProLogis Park Ostrava and Trost at Orange Park in the Pilsen Region. Logistics companies Schenker and Damco expanded in the east of Bohemia.

The national average vacancy rate decreased rapidly last year. Towards the end of 2010 some 10.6 per cent of all space remained vacant, compared with 15 per cent one year earlier.

As far as new construction is concerned, last year lagged behind previous years, with only 191,000 sq m built and commissioned, the lowest amount since 2004. It was about one-half compared with 2009 and about one-fifth of the construction in the record-breaking year 2007.

For the future, a slow return of speculative construction is expected in regions with low vacancy rates and stable demand.

Read full article in Press release section, for the statistics figures go to Market statisctics.



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