Since the end of last year it was already apparent that the weakening economy and rising interest rates as a result of the Ukraine war were having a dampening effect on demand for office space. As the uncertainty about the further overall economic development has not yet completely disappeared despite increasing positive signals, take-up in the first quarter of 2023 was relatively moderate. At 144,000 m², both the previous year's result and the ten-year average were missed by a good fifth. In a nationwide comparison, the capital is once again in the lead ahead of Munich. Against the backdrop of the current difficult conditions, however, the overall result converse for a thoroughly robust Berlin office market. This statement is underlined by the fact that demand is generaly wide distributed across all market segments. Major lettings larger than 5,000 m² also make a substantial contribution to the result, accounting for around 30%. The most important lettings include a good 19,000 m² for the Boston Consulting Group in Mediaspree and almost 13,000 m² for the Marzahn-Hellersdorf Job Centre.


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