![](\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/04\/vata.jpeg\")
Foto: Seznam Zpr\u00e1vy , Seznam Zpr\u00e1vy<\/p>\nP\u0159i srovn\u00e1n\u00ed st\u0159edoevropsk\u00fdch metropol\u00ed se \u010dasto objevuje ot\u00e1zka, jak si Praha stoj\u00ed v\u00a0konkurenci Var\u0161avy \u010di Budape\u0161ti. Zat\u00edmco v\u00a0okoln\u00edch st\u00e1tech vid\u00edme dynamickou v\u00fdstavbu kancel\u00e1\u0159sk\u00fdch budov, Praha se vyzna\u010duje v\u00fdrazn\u011b ni\u017e\u0161\u00ed aktivitou developer\u016f. Tento rozd\u00edl nen\u00ed pouze vizu\u00e1ln\u00ed, ale m\u00e1 z\u00e1sadn\u00ed dopad na fundamenty trhu. Omezen\u00e1 nab\u00eddka nov\u00fdch prostor v\u00a0kombinaci se stabiln\u00ed popt\u00e1vkou vytv\u00e1\u0159\u00ed v\u00a0Praze specifick\u00e9 prost\u0159ed\u00ed, kter\u00e9 tla\u010d\u00ed ceny n\u00e1jm\u016f vzh\u016fru a\u00a0nut\u00ed investory p\u0159ehodnocovat tradi\u010dn\u00ed p\u0159\u00edstupy ke spr\u00e1v\u011b aktiv.<\/p>\n
P\u0159i pohledu na je\u0159\u00e1by nad Prahou by se mohlo zd\u00e1t, \u017ee development komer\u010dn\u00edch prostor jede na pln\u00e9 obr\u00e1tky. Data, kter\u00e1 v\u00a0\u010ceskomoravsk\u00e9 Nemovitostn\u00ed detailn\u011b sledujeme, v\u0161ak ukazuj\u00ed zcela jinou realitu. Zat\u00edmco v\u00a0roce 2019\u00a0se na trh dostalo \u010dtvrt milionu metr\u016f \u010dtvere\u010dn\u00edch nov\u00fdch kancel\u00e1\u0159\u00ed, v\u00a0roce 2025\u00a0dos\u00e1hl objem nov\u011b dokon\u010den\u00fdch kancel\u00e1\u0159\u00ed pouze 26\u00a0600\u00a0m2, co\u017e p\u0159edstavuje drastick\u00e9 omezen\u00ed nab\u00eddky. D\u016fvod je prozaick\u00fd a\u00a0ryze tr\u017en\u00ed. Soub\u011bh vysok\u00fdch \u00farokov\u00fdch sazeb, dra\u017e\u0161\u00ed v\u00fdstavby a\u00a0nekone\u010dn\u00fdch povolovac\u00edch proces\u016f z\u00e1sadn\u011b zm\u011bnil investi\u010dn\u00ed matematiku. To se projevuje p\u0159edev\u0161\u00edm v\u00a0\u0161ir\u0161\u00edm centru a\u00a0na okraj\u00edch m\u011bsta. Zat\u00edmco pr\u00e9miov\u00e9 lokality unesou n\u00e1jemn\u00e9, kter\u00e9 tyto zv\u00fd\u0161en\u00e9 n\u00e1klady pokryje, na periferii trh nar\u00e1\u017e\u00ed na sv\u00e9 limity. Nov\u00e1 v\u00fdstavba v\u00a0t\u011bchto oblastech tak moment\u00e1ln\u011b jen obt\u00ed\u017en\u011b hled\u00e1 sv\u00e9 ekonomick\u00e9 opodstatn\u011bn\u00ed.<\/p>\n
Praha – 1,5\u00a0milionu obyvatel a\u00a04\u00a0miliony metr\u016f kancel\u00e1\u0159sk\u00fdch ploch<\/p>\n
Tento dramatick\u00fd v\u00fdpadek nab\u00eddky, odborn\u011b ozna\u010dovan\u00fd jako \u201esupply shock\u201c, nar\u00e1\u017e\u00ed na popt\u00e1vku, kter\u00e1 je v\u00a0Praze p\u0159ekvapiv\u011b stabiln\u00ed a\u00a0robustn\u00ed. Praha se toti\u017e m\u016f\u017ee pochlubit nejvy\u0161\u0161\u00ed obsazenost\u00ed kancel\u00e1\u0159\u00ed v\u00a0Evrop\u011b, co\u017e je v\u00a0ostr\u00e9m kontrastu s\u00a0\u0159adou jin\u00fdch metropol\u00ed, kde je pr\u016fm\u011brn\u00e1 neobsazenost kancel\u00e1\u0159\u00ed okolo 10\u00a0%. V\u00fdsledkem t\u00e9to z\u00e1sadn\u00ed disproporce je obrovsk\u00fd tlak na cenu u\u00a0existuj\u00edc\u00edch, kvalitn\u00edch budov, kter\u00e9 jsou na trhu st\u00e1le \u017e\u00e1dan\u011bj\u0161\u00ed. Trh funguje p\u0159esn\u011b podle u\u010debnic ekonomie, pokud zamrzne nab\u00eddka a\u00a0popt\u00e1vka z\u016fst\u00e1v\u00e1, ceny mus\u00ed j\u00edt nahoru. A\u00a0Praha je toho z\u00e1\u0159n\u00fdm p\u0159\u00edkladem.<\/p>\n
Pro\u010d tedy neinvestujeme t\u0159eba ve Var\u0161av\u011b nebo Budape\u0161ti? Odpov\u011b\u010f le\u017e\u00ed v\u00a0\u010d\u00edslech. Tyto trhy jsou drav\u00e9 a\u00a0volatiln\u00ed. Develope\u0159i tam dok\u00e1\u017eou postavit mrakodrap spekulativn\u011b b\u011bhem dvou let, co\u017e vede k\u00a0tomu, \u017ee se trh snadno p\u0159esyt\u00ed. M\u00edra neobsazenosti tam b\u011b\u017en\u011b sk\u00e1\u010de mezi 10\u00a0a\u00a015\u00a0procenty. Praha a\u00a0Bratislava stoj\u00ed na opa\u010dn\u00e9m p\u00f3lu\u00a0\u2013 v\u00a0t\u011bchto m\u011bstech se stav\u00ed absolutn\u011b nejm\u00e9n\u011b. Extr\u00e9mn\u011b zdlouhav\u00e9 povolovac\u00ed procesy v\u00a0Praze funguj\u00ed jako necht\u011bn\u00e1, ale pro investory dokonal\u00e1 pojistka hodnoty. Br\u00e1n\u00ed vzniku nadbyte\u010dn\u00fdch kapacit. Je\u0161t\u011b zaj\u00edmav\u011bj\u0161\u00ed je struktur\u00e1ln\u00ed srovn\u00e1n\u00ed s\u00a0V\u00eddn\u00ed, kter\u00e1 je Praze nejbl\u00ed\u017ee. V\u00edde\u0148 m\u00e1 2\u00a0miliony obyvatel a\u00a0disponuje 10\u00a0miliony metr\u016f \u010dtvere\u010dn\u00edch kancel\u00e1\u0159\u00ed. Praha m\u00e1 1,5\u00a0milionu obyvatel, ale pouze 4\u00a0miliony metr\u016f kancel\u00e1\u0159sk\u00fdch ploch. Tento dramatick\u00fd nepom\u011br ukazuje, jak moc je pra\u017esk\u00fd trh st\u00e1le \u201epodvybaven\u00fd\u201c a\u00a0jak\u00fd m\u00e1 potenci\u00e1l.<\/p>\n
Zrychlen\u00e1 konvergence Prahy k\u00a0z\u00e1padn\u00edm trh\u016fm<\/p>\n
Je\u0161t\u011b p\u0159ed pandemi\u00ed se pr\u00e9miov\u00e9 n\u00e1jemn\u00e9 v\u00a0centru metropole pohybovalo kolem 20\u00a0eur za metr \u010dtvere\u010dn\u00ed. Dnes se v\u0161ak v\u00a0t\u011bchto lokalit\u00e1ch uzav\u00edraj\u00ed smlouvy bl\u00ed\u017e\u00edc\u00ed se hranici 30\u00a0eur. To p\u0159edstavuje neuv\u011b\u0159iteln\u00fd pades\u00e1tiprocentn\u00ed n\u00e1r\u016fst b\u011bhem pouh\u00fdch p\u011bti let. Nejde p\u0159itom jen o\u00a0b\u011b\u017enou inflaci, ale o\u00a0re\u00e1lnou a\u00a0zrychlenou konvergenci Prahy k\u00a0z\u00e1padn\u00edm trh\u016fm. Praha p\u0159est\u00e1v\u00e1 b\u00fdt vn\u00edm\u00e1na jako \u201elevn\u00fd V\u00fdchod\u201c a\u00a0st\u00e1v\u00e1 se plnohodnotnou, by\u0165 nyn\u00ed dra\u017e\u0161\u00ed, evropskou metropol\u00ed. Firmy tento r\u016fst n\u00e1jemn\u00e9ho akceptuj\u00ed, jeliko\u017e v\u00a0dne\u0161n\u00edm konkuren\u010dn\u00edm boji o\u00a0talenty pot\u0159ebuj\u00ed reprezentativn\u00ed prostory v\u00a0centru, nikoliv kompromis na periferii. Kvalitn\u00ed a\u00a0strategicky um\u00edst\u011bn\u00e9 kancel\u00e1\u0159e jsou toti\u017e kl\u00ed\u010dov\u00fdm n\u00e1strojem pro p\u0159il\u00e1k\u00e1n\u00ed a\u00a0udr\u017een\u00ed \u0161pi\u010dkov\u00fdch zam\u011bstnanc\u016f.<\/p>\n
Tato dynamika nut\u00ed investory p\u0159episovat sv\u00e9 zaveden\u00e9 strategie. Dlouh\u00e1 l\u00e9ta platilo dogma, \u017ee \u010d\u00edm del\u0161\u00ed n\u00e1jemn\u00ed smlouva\u00a0\u2013 ide\u00e1ln\u011b na 10\u00a0a\u00a0v\u00edce let\u00a0\u2013 t\u00edm l\u00e9pe pro valuaci nemovitosti a\u00a0pro klid financuj\u00edc\u00ed banky. V\u00a0prost\u0159ed\u00ed, kde tr\u017en\u00ed n\u00e1jemn\u00e9 neust\u00e1le roste a\u00a0\u010dasto rychleji ne\u017e inflace, se v\u0161ak tato logika obrac\u00ed a\u00a0pr\u016fm\u011brn\u00e1 d\u00e9lka n\u00e1jemn\u00edch smluv v\u00a0Praze se zkr\u00e1tila na 5\u00a0let. Lep\u0161\u00ed je preferovat krat\u0161\u00ed smlouvy, ide\u00e1ln\u011b na 3\u00a0a\u017e 5\u00a0let. Fixovat n\u00e1jemce na dek\u00e1du s\u00a0b\u011b\u017enou infla\u010dn\u00ed dolo\u017ekou by dnes pro majitele budovy znamenalo dobrovoln\u011b se vzd\u00e1vat potenci\u00e1lu tr\u017en\u00edho r\u016fstu, kter\u00fd m\u016f\u017ee b\u00fdt klidn\u011b i\u00a0dvoucifern\u00fd. Je to racion\u00e1ln\u00ed reakce na sou\u010dasnou volatilitu trhu\u00a0\u2013 flexibilita se stala cenn\u011bj\u0161\u00ed ne\u017e dlouhodob\u00e1, ale potenci\u00e1ln\u011b ztr\u00e1tov\u00e1 fixace.<\/p>\n
Nach\u00e1z\u00edme se v\u00a0bod\u011b zlomu, kde obdob\u00ed \u201elevn\u00fdch pen\u011bz\u201c a\u00a0\u201elevn\u00fdch n\u00e1jm\u016f\u201c definitivn\u011b skon\u010dilo. Trh se \u010dist\u00ed a\u00a0profesionalizuje. Star\u0161\u00ed a\u00a0neefektivn\u00ed budovy na okraj\u00edch Prahy budou postupn\u011b ztr\u00e1cet na atraktivit\u011b a\u00a0hodnot\u011b, zat\u00edmco centrum a\u00a0pr\u00e9miov\u00e9 lokality jako Karl\u00edn \u010di Sm\u00edchov budou cenov\u011b d\u00e1le r\u016fst a\u00a0upev\u0148ovat svou pozici. Pro investory do nemovitost\u00ed to znamen\u00e1, \u017ee pasivn\u00ed dr\u017een\u00ed aktiv u\u017e nesta\u010d\u00ed. Kl\u00ed\u010dem k\u00a0udr\u017eiteln\u00e9mu v\u00fdnosu bude aktivn\u00ed spr\u00e1va\u00a0\u2013 schopnost efektivn\u011b pracovat s\u00a0d\u00e9lkou smluv, investovat do modern\u00edch technologi\u00ed budov, kter\u00e9 zvy\u0161uj\u00ed atraktivitu pro n\u00e1jemce, a\u00a0maxim\u00e1ln\u011b vyu\u017e\u00edt toho, \u017ee nab\u00eddka nov\u00fdch prostor bude v\u00a0Praze je\u0161t\u011b n\u011bkolik let siln\u011b omezen\u00e1. Nen\u00ed to doba pro spekulace, ale pro fundament\u00e1ln\u00ed a\u00a0dob\u0159e promy\u0161len\u00e9 investov\u00e1n\u00ed s\u00a0dlouhodobou perspektivou.<\/p>\n
Foto: Seznam Zpr\u00e1vy , Seznam Zpr\u00e1vy<\/p>\n
P\u0159ij\u010fte na debatu Ve vat\u011b<\/p>\n","protected":false},"excerpt":{"rendered":"P\u0159i srovn\u00e1n\u00ed st\u0159edoevropsk\u00fdch metropol\u00ed se \u010dasto objevuje ot\u00e1zka, jak si Praha stoj\u00ed v\u00a0konkurenci Var\u0161avy \u010di Budape\u0161ti. Zat\u00edmco v\u00a0okoln\u00edch…\n","protected":false},"author":2,"featured_media":67042,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[475,8435,888,98,99,780,4130],"class_list":{"0":"post-67041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-praha","8":"tag-developer","9":"tag-kancelare","10":"tag-najem","11":"tag-prague","12":"tag-praha","13":"tag-reality","14":"tag-trhy"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116471357955084282","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/67041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=67041"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/67041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/67042"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=67041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=67041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=67041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}