The share of vacant offices in Brno fell last year, while the area increased

Brno - The share of vacant offices in Brno decreased last year, even though their area significantly increased. At the end of 2016, the vacancy rate was 12.1 percent, a year-on-year decrease of a quarter. The area grew by nine percent to 525,000 square meters, with four administrative buildings completed. This was stated in a press release by the Regional Research Forum, which brings together institutions and companies operating in the real estate market.

The largest complex was completed in Slatina, specifically the Areál Slatina O building with 15,300 meters. Construction continues in this location. Slightly smaller is the Campus Science Park C in Bohunice. Approximately half the size is Dorn near Vaňkovka and CTOffice A2 on Škrobárenská Street. Virtually all projects are currently being successfully occupied by developers even before opening, and thanks to ongoing economic recovery, even long-vacant offices are being filled.

Currently, an additional 44,300 meters of offices are under construction in Brno, with the completion of 17,300 meters expected this year. Office spaces in the city center and its immediate surroundings are becoming increasingly successful, while the occupancy of locations that are far from the center and poorly accessible by public transport remains problematic. According to experts, in a time of excess demand in the job market, good accessibility to the center and related services acts as one of the offered benefits for employees.

Rents in Brno remain relatively stable in the long term. The highest achievable rent remained at 13 euros (351 CZK) per square meter per month in the second half of last year.