Key locations are driving project prices higher

Pankrác, Smíchov, Karlín and the city centre lead the most lucrative locations


CBRE has issued a study of the Czech commercial land market, comparing prices in 2010 and 2015. The study maps the price differences across the office, residential, industrial and retail markets.

The strongest growth in prices was found for office projects in Prague 5 – Smíchov, where it fluctuated between 6,000 and 8,000 CZK/sq m in 2010 for planned rental sites, whereas in the range of 10,000 CZK – 14,000 CZK in 2015.

Jan Hospodář, Head of Sales & Acquisition, CBRE
The most expensive land for office projects can be found in Smíchov, Pankrác and Karlín, where prices reach 13 to 14,000 CZK/sq m. Additionally, in comparison to 2010, there has been a noticeable increase in prices in Smíchov due to its popularity as well as the lack of sites suitable for building offices.
Jan Hospodář, Head of Sales & Acquisition, CBRE

The Office Market

Source: CBRE

*Project prices per sq m for planned rental sites

** Prices concerning projects with valid land use decisions


In terms of the residential market, we have noticed a significant change in Prague 5 – Nové Butovice, where prices fluctuated between 4,000 CZK and 5,000 CZK /sq m for planned sites for sale in 2010 compared to 6,000 CZK – 9,000 CZK /sq m in 2015. This is also the case for Prague 8, where 2010 prices ranged from 5,000 CZK to 8,000 CZK /sq m and they have grown to record prices between 9,000 CZK and 13,000 CZK /sq m this year.



Jan Hospodář, Head of Sales & Acquisition, CBRE
The most expensive location with the largest increase in prices for residential projects is Karlín. This area has developed significantly over the recent years. Karlín is close to the city centre and has become an established office location over the past decade, which has increased the interest of residential developers.
Jan Hospodář, Head of Sales & Acquisition, CBRE

The Residential Market

Source: CBRE

*Project prices per sq m for clear planned sites for sale

** Prices concerning projects in which residential units reach a price of 40,000 – 85,000 CZK per sq m


Ostrava is the only region where the industrial land price has stagnated. In the other regions of Prague, Brno and Plzen the price of industrial land has grown by up to 24%. On the other hand, the retail land price has fallen in the last 5 years. In terms of the amount of retail sites, the Czech Republic is already saturated and the potential for building large shopping centres on greenfield sites are therefore scarce. Nevertheless, we have been monitoring the demand for retail parcels with an area of 1 000 – 2 000 sq m in the vicinity of already existing food chains such as Lidl, Tesco or Kaufland. These consist of 3 to 5 retail units ranging from 300 - 400 sq m in size.

About CBRE

CBRE Group, a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2016 revenue). The Company has approximately 75,000 employees and serves real estate investors and occupiers through approximately 450 offices worldwide (excluding affiliates). CBRE offers a broad range of integrated services including project management; property management; investment management; valuation; property leasing; strategic consulting and research and consulting. In the Czech Republic, CBRE has almost 350 employees and manages nearly 70 commercial premises with a total area nearly 1.2 mil. sq. m. Read more at