Prague 1 and 2 are not only the historical and cultural heart of the Czech capital, but also places where tradition meets modern business. Despite the growing trends of hybrid work and office decentralization, these districts continue to hold their position as the most sought-after business addresses—not only because of their prestige but also due to their unique combination of heritage, infrastructure, and high-quality working environments.
Low Vacancy Rates Reflect High Demand
According to data from Savills, the office vacancy rate in Prague at the end of Q1 2025 stood at just 7.1%, with Prague 1 at 5% and Prague 2 at only 2% (Savills report). These figures clearly demonstrate that demand for office space in the city center significantly exceeds supply.
Unlike the outer districts of Prague, where vacancy rates can reach up to 15%, the city center is virtually fully occupied. This trend is not unique to Prague—similar patterns can be seen in other major European cities like Vienna or Munich, where premium city-center locations consistently experience strong demand.
New developments in these areas are highly limited. Most projects focus on refurbishing existing buildings, further increasing the exclusivity of available office space. A prime example is the VN62 building on Wenceslas Square, which has undergone a sensitive modernization and now offers offices that meet the highest standards—without losing their historical character.
Prestige That Can’t Be Replaced
One of the main reasons Prague 1 and 2 remain in such high demand is their prestige. A central Prague address is not just practical—it’s symbolic. According to an analysis by CBRE, location plays a critical role in companies’ office location decisions, and in this regard, Prague 1 and 2 are unmatched thanks to their position, infrastructure, and historical significance (CBRE report).
Alongside prestige, practicality is also key. The city center offers excellent access to public transport, including all three metro lines, a dense tram network, and proximity to the main railway station. This level of connectivity makes commuting easier for employees and more convenient for client visits. That’s why companies are looking for high-profile addresses like VN62, which combines an exceptional location directly on Wenceslas Square with premium services.
Next-Generation Office Space
Today’s companies are looking for more than desks and meeting rooms. Modern office environments must offer flexibility, sustainability, and an inspiring atmosphere. A report from Colliers International highlights a clear shift in Prague 1 and 2 toward the refurbishment and modernization of existing buildings. Instead of large-scale new developments, the focus is on quality and preserving historical charm (Colliers report). VN62 is a perfect example of this approach. Its renovation brought together contemporary office standards with respect for architectural heritage. The building offers modern technology, ergonomic interiors, and a unique sense of place in the historic center—something both employees and clients appreciate.
The Future of Central Office Space
Despite the rising popularity of hybrid work and shared office spaces, demand for office space in Prague 1 and 2 remains high. According to a study by Colliers International, interest in premium office space in the city center is expected to continue growing in the coming years, driven by limited supply and the ongoing transformation of the workplace (Colliers report). Data from Savills further shows that Prague 1 has one of the lowest vacancy rates in the entire city. The combination of limited availability, strong demand, and exclusive projects like VN62 makes this location a clear choice for companies seeking to impress clients, inspire employees, and invest in a stable, long-term office location.
The future of office space in Prague 1 and 2 will likely be shaped by continued digitalization, a growing emphasis on sustainability, and increasing demand for flexible solutions. Projects like VN62 demonstrate that even historic buildings can meet the rigorous demands of modern workplaces—and it is precisely this adaptability that will ensure Prague 1 and 2 remain magnets for businesses of all sizes.
