Office Dashboard

By the end of the third quarter, office take-up across Germany’s key office markets of Berlin, Düsseldorf, Essen, Frankfurt, Hamburg, Cologne, Leipzig, and Munich totaled just under 2.0 million sq m, broadly in line with the previous year’s level (-1.6% y-o-y). Rising interest rates, a weak economic environment, and increasingly refined occupier requirements had the potential to weigh significantly on leasing activity during the summer months. Against this backdrop, it is all the more noteworthy that office take-up actually recorded a moderate quarter-on-quarter increase in the majority of the markets analyzed. Berlin, Munich, and Düsseldorf stand out with double-digit growth rates, making a particularly positive contribution to the overall result. Most markets reported higher take-up volumes in the third quarter, albeit from a relatively low base.