Office hire: Prague is already the 27th most expensive city in the world
Date: March 4th, 2009
Despite the consequences of the economic crisis, Prague last year ranked 27th in the world in terms of the rent/office rates. For one square metre, the tenants in Prague annually pay an average amount of 439 EUR, which is more than 12 300 CZK. Nevertheless, from the listing of the most expensive office localities in the world, the Czech metropolis was one year previously 11 positions lower at 38th rank.From the statistics published by the renowned international real estate and consulting firm Cushman & Wakefield, it follows that the office rental rate in the Czech Republic last year rose by 13 percent year-on-year. Even the stagnation of demand in the last quarter due to the emerging crisis did not hinder marked growth. Of the total office space in Prague (2.5 million sq. metres), about 9 percent was vacant.
According to Daniel Lattner, CEO OFFICE HOUSE, which is operating virtual offices in 8 cities in the Czech Republic and Slovakia, it can be expected that this figure will still rise this year. “In a time of economic crisis, companies cut down their budgets and rent of office space is a significant item. Many clients come to us who have closed down own offices due to high costs. Together with the virtual office, the clients in the majority of the cases also get a far much better address than the address at which they worked before then. At the same time, we are capable of securing complete administrative operations just like an own office. The price of these services is, nevertheless, far much lower than they would be if the client had to pay an own assistant or receptionist,” says Daniel Lattner.
Virtual offices are nothing new in the Czech Republic. This service is used in our country for more than ten years already, while OFFICE HOUSE is the biggest long-term provider of this service in the Czech Republic.
