"The number of companies looking for quieter locations or expanding into regions is constantly growing. They are attracted both by the lower costs of renting office space and easier access to human resources. Unfortunately, in the regions, companies often encounter a problem with the availability of suitable office space, and it looks like the situation will not improve in the near future," explains Jana Vlková, director of the Workplace Advisory and Office Agency department at Colliers, adding that demand is growing especially in Ostrava, Olomouc, Ústí nad Labem, Hradec Králové and Pilsen, where, however, the modern office stock is usually only between 30,000 - 100,000 m2. And even though there is a fairly decent supply of future projects, for economic reasons, their delivery is delayed in many cases or their implementation is postponed to a later date.

The prices of office space are many times lower than in Prague

Compared to Prague, where the most expensive and exclusive office projects in the city center are rented for 27 euros per m2, rental prices in regional cities are three times lower. For example, premium premises in Ostrava or Pilsen cost 13.50 to 14.00 euros per m2 per month, 9.20 to 13.90 euros in Olomouc, 6.30 to 10.50 euros in Ústíki and 7 in Hradec Králové. 00 to 8.80 euros. At the lowest level, rents are in Zlín, Vysočín and Liberec, where companies usually pay 5.00 to 8.80 euros per month for 1 m2.

The main attraction is the people and wages up to 30% lower

For example, companies from the field of business and IT services are looking at the regions as another location to their Prague or Brno headquarters. According to the ABSL association, Ostrava, Olomouc, Hradec Králové and Pilsen are particularly interested in this field, which already employs almost 160,000 qualified workers. "The reason is mainly the post-pandemic transformation of the working environment and the interest of these international companies in concepts such as Hub & Spoke, in which companies reduce the size of the main office and supplement it with smaller spaces in different locations, or Flex & Core, which combines a smaller main an office with membership in one or more co-working centers," explains Jana Vlková. However, the main role in this transformation is played by people. In Prague, where current unemployment is only 3.1%, employers have long been faced with a very low availability of job applicants. In regional cities, the unemployment rate is usually higher, and this increases the chance of obtaining the necessary workforce, even at lower wages. While the average monthly wage in Prague was, according to the CZSO, 52,833 CZK in the second quarter, it was only 41,912 CZK in the South Moravian Region, 41,249 CZK in the Hradec Králové Region, 39,108 CZK in the Moravian-Silesian Region, 39,589 CZK in the Ústí Region and Olomouc by 38,488 CZK.