TOP-PERFORMING OFFICE MARKET, AHEAD OF LONG-TERM AVERAGE
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The Berlin office market maintained its positive momentum in the third quarter. With office take-up reaching around 541,000 sqm, the German capital not only significantly outper-formed the previous year's result (+49%) but also slightly exceeded its 10-year average of 538,000 sqm (+1%). Moreover, both Q2 and Q3 recorded take-up volumes well above the average quarterly level seen since 2022, underlining the positive demand trend throughout 2026.
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Compared with the other major German office markets, Berlin once again ranked as the country's most dynamic market at the end of September and remained the only location to slightly surpass its long-term average. A key driver to the strong quarterly result was the relocation of Berliner Verkehrsbetriebe (BVG) to a new headquarter near Berlin Ostkreuz, with BNPPRE advising on the lease of approximately 39,400 sqm.
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The broad-based market recovery is reflected in the performance of the city's office sub-markets, most of which recorded higher take-up volumes than their respective Q1-Q3 averages of the past three years.
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While no further increase in prime rent was recorded, the top rental sector of the market continues to stabilise at €47/sqm, containing more and more contracts at this high level.