Demand for office space continues to be affected by the weak economy and the comparatively moderate outlook. With take-up of only 541,000 m² in 2023, the capital city therefore achieved its weakest result in the last ten years. Compared to the previous year, the decline amounts to 30%, and the ten-year average was also undercut by a comparable margin. Below-average demand was observed in the large-size segment in particular. Looking at the results of the last quarter demonstrates just the extent of uncertainty regarding the overall economic development. At just 115,000 m², the result was roughly on a par with 2008 and 2009. The fact that, in addition to the weak economic situation, geopolitical risks, which could have a negative impact on the global recovery, have certainly contributed to this. Despite all, Berlin has once again taken the lead among the major German office locations, ranking ahead of Munich (467,000 m²) and Hamburg (450,000 m²).


The PDF download contains an overview of the key figures for the Berlin 2023 office market and the detailed table of key figures at submarket level can be accessed via the following link.

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