SLIGHTLY BELOW AVERAGE START TO THE YEAR
With a take-up of 21,000 m², Leipzig's office letting market started the new year slowly, and reached a volume slightly below the long-term average (-9%). Two factors can explain why the Saxony metropolis just missed out on the strong results of recent years. On the one hand, there is a lack of major deals with a volume of over 5,000 m², which is mainly due to the existing shortage of large modern office spaces. In the meantime, however, the top rent has reached a level of 15.50 €/m² that also allows project developments, which will probably provide urgently needed space with modern quality in the next few years. On the other hand, traditionally strong demand groups (e.g. public administration) have not yet become active on the market. At this point in time, it is not yet possible to conclusively assess what influence the Corona crisis will have on the further development of the Leipzig office market.
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