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Retail By City

city rank #33

City Overview

The capital Prague is the political and economic centre of the Czech Republic, as well as the tourist magnet of European importance. It is also highly targeted retail market in Europe. The Prague retail market is mostly formed by two segments: high street and shopping centres.

The high street retail in Prague is the most developed and thriving high street in the country and its stock is estimated to be at 130,000 sq m. The mass market location is situated around Wenceslas Square, Na prikope, 28. rijna and Narodni Streets. The luxury and high end market is mostly on Parizska Street, partially on Dlouha and Havirska Street. This segment is growing substantially in Prague, largely driven by tourism especially from Asia and Russia. Concurrently, the lack of supply in prime locations with demand being much higher than available space, is resulting in upwards pressure on rents. Moreover, the limitation of Prague´s high street market force the expansion to surrounding streets and creates opportunities for dominant shopping centres (flagship stores, first point of entry for retailers). Thanks to keen interest from retailers and limited space, prime high street retail rents have reached the level of EUR 225 per square metre per month.

Approximately 33 % (783,400 sq m) of the total Czech Republic modern shopping centre stock is located in Prague, which includes 25 shopping centres. The most significant offer on the Prague shopping centre market is represented by six dominant shopping centres: Palladium, Centrum Chodov, Novy Smichov, Centrum Cerny Most, Obchodni centrum Letnany and Metropole Zlicin and two more local fashion focused shopping centres: Arkady Pankrac and Atrium Flora. Prime shopping centre rents in Prague shows ongoing increase caused by relatively limited offer and high demand and stood at EUR 135 per square metre per month.

Things to do

See

Work

New modern office project Florentinum on Na Florenci street and mixed use office & retail project Quadrio directly above the metro B station Narodni Trida.


Rest

Prague Castle, Old Town Square, Mala Strana, Charles Bridge, Vysehrad


And be seen

Eat

Bellevue, Kogo, Ambiente, V Zatisi, Svata Klara, Cowboys, Alcron, Cafe Imperial, Villa Richter, Vinodivino, Grosseto Marina


Drink

Kolkovna, Bar and Books, Monarch, Bokovka, U Fleku


Be Merry

Aloha, Asian Temple, Hard Rock Cafe, James Dean, Duplex


Other Cities in Czech Republic

Contact Us

Tomas Beranek
Palladium
Namesti Republiky 1
+420 224 814 060 | tomas.beranek@cbre.com