CAUTIOUS START TO THE YEAR BUT POSITIVE OUTLOOK
After three years, in which the first quarter already showed record volumes, the start of 2019 is, as expected, much more modest. At 89,000 m², the take-up was almost one-third below the exceptionally good figure of the previous year. Even in the narrower gif area, a decline of a comparable scale was recorded with a result of only 79,000 m². The most important reason for the low momentum is the disproportionately small share of larger deals to date. As these are not spread evenly over the year, a lack of corresponding contracts in the first quarter is particularly significant. On a long-term average, rentals of more than 5,000 m² account for around one third of Frankfurt's take-up. Currently, their share is only 18 %. Around half of the difference in take-up compared with the previous year can be explained solely by the development in this market segment. With the lease of 10,700 m² by the Gesellschaft für Internationale Zusammenarbeit GIZ in Eschborn, only one contract of over 10,000 m² could be registered.
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