BERLIN OFFICE MARKET OFF TO A GOOD START
With a total take-up of 185,000 sqm in the first quarter of the year, the result for the Berlin office market is just above the results for the two previous years 2020 (176,000 sqm) and 2021 (181,000 sqm). The fact that there are only 5% between this years result, the two aforementioned comparative years and the long-term average (177,000 sqm) can be seen as a clear indication of the high consistency of the office market in the capital city, even during the Corona crisis. It is noteworthy that, with around three quarters of the volume, a very high proportion is attributable to deals in the smaller and medium size categories of up to 5,000 sqm. While large deals with at least 10,000 sqm, generated around a quarter of the take-up in the last 10 years, they have not yet made an appearance in the first three months of the year. Nevertheless a good balance has been achieved. The office submarket with the highest take-up continue to be broadly spread across the Berlin market area: According to the take-up of Kreuzberg/Friedrichshain (29,300 sqm), Charlottenburg (22,200 sqm) and Topcity West (20,000 sqm), the submarkets with the highest volumes are located in the city fringe as well as in the city centre and Topcity.