Office Dashboard

At the half-year mark, Germany’s key office markets of Berlin, Düsseldorf, Essen, Frankfurt, Hamburg, Cologne, Leipzig and Munich recorded a take-up of 1.3 million m². Overall, the market is moving sideways. In view of the persistently weak economic momentum and the additional pressures on the wider environment since the outbreak of the Iran war, matching the previous year’s level should be regarded as a success. Meanwhile, the differentiation of the office markets continues to advance, with demand clearly focused on premium, or at least modern, space in the best micro locations. Looking at individual cities, many markets are demonstrating resilience and showing intact underlying momentum. Supported by significant large-scale deals, take-up in Berlin, Düsseldorf, Frankfurt and Munich has recently even increased. Greater confidence, planning certainty and deregulation should provide the German economy with some tailwind towards the end of the year, which would also have a positive impact on office take-up. For the year as a whole, a result slightly above the previous year’s level therefore appears entirely realistic.