OFFICE MARKET SLOWLY GAINING MOMENTUM; FIRST MAJOR DEALS IN Q3
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The Leipzig office market is slowly gaining momentum. By the end of the third quarter, only 63,000 sqm of space had been taken up. This is significantly below both last year's figure and the long-term average of slightly above 90,000 sqm, meaning the current result is around a third lower.
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However, on a positive note, letting activity has increased quarter on quarter over the course of the year, with an increasing amount of activity also being recorded in large contracts. In the third quarter, two contracts with a space of over 5,000 sqm were successfully concluded for the first time in 2025. Deloitte completed the largest lease of the year so far in Q3, at around 8,000 sqm. A transport and traffic company secured around 5,600 sqm in the Ringlage submarket.
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The aforementioned large deals have recently caused a slight shift in market share in terms of take-up. Although lettings of up to 1,000 sqm continue to form an important foundation of the market with a share of almost 51%, the result of around 32,000 sqm is noticeably below the long-term average (-35%). The current driver of take-up is the 5,000–10,000 sqm size category, which has performed above average with 14,000 sqm and a 21.5% market share.
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Since the end of 2024, the prime rent has remained at €21.00/sqm, which is 5% above the comparable figure for the previous year. In some cases, higher rents are already being achieved for premium space in prime central locations. The average rent has continued to rise, reaching €13.30/sqm by the end of the third quarter — a 4% increase on Q3 2024.
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