Brno: An office alternative to Prague?
Only one new office building was completed in Brno last year. This was in the city centre at Nové Sady. The area of new offices in the Moravian capital has increased by almost 3,000 sqm to 354,600 sqm. There were further 46,000 sqm of new space under construction at the end of 2011. This follows from the information by Regional Research Forum. According to Eduard Forejt from JLLS, foreign firms see Brno as a full-fledged alternative to Prague. The market in Brno is the second largest in the CR, but the rent is about a half. “Brno´s advantages lie in plenty of quality office space, favourable price level at around EUR 12 per sqm/month and skilled workforce,” said Mr Forejt. There were 39,100 sqm of vacant office space in Brno at the end of last year. Vacancy rate reached 11%, down by 0.2 percentage points compared to the end of 2010.