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The German office markets have entered the new year in a generally moderate manner. In Germany’s key office markets - Berlin, Düsseldorf, Essen, Frankfurt, Hamburg, Cologne, Leipzig, and Munich - office take-up in the first quarter of 2026 amounted to 603,000 m², representing a decrease of 14% compared to the previous year. Overall, the markets were supported by lively letting activity in the smaller space segment and a better momentum regarding medium-sized deals. Individual locations exceeded both the previous year’s level and the five-year average whenever major contracts were successfully concluded and significantly more dynamic was observed in deals ranging from 5,000 to 10,000 m². Berlin and Munich made strong contributions in an ongoing challenging market environment, with volume increases of 42% and nearly 26%, respectively. Although a rapid broad-based recovery is not yet foreseeable for the rest of the year, there is likely to be increasing momentum in sought-after segments, accompanied by sustained high rental pressure in the top sectors. Against this background, Germany’s most important office markets are heading for a stable and possibly even more robust year in terms of take-up compared to 2025.