FRANKFURT REMAINS ON COURSE AT THE END OF THE YEAR
Overall, the Frankfurt office market was characterised by great consistency in the past year 2022. After a very successful start to the year with a take-up of 137,000 m², letting volume settled between 105,000 m² and 120,000 m² in the following quarters despite the challenging economic situation. In total, leasing contracts were registered for a volume of 472,000 m² (gif market area: 392,000 m²). Meaning that both the previous year's result and the 10-year average (539,700 m²) were missed by a good 12% in each case. The fourth quarter was particularly positive. Although there have been increasing signs of a presumably weak recession for some months, the pace of lettings hardly slowed down at 110,000 m² (-8% compared to Q3). In a nationwide comparison of Germany’s largest office markets, Frankfurt occupies a positive exceptional position between Berlin, Munich and Hamburg, where double-digit declines were registered due to the difficult market environment.