THIRD BEST START OF THE YEAR
In the first quarter of 2019, a take-up of 194,000 m² was recorded in the Munich office market. Compared to the previous year, this corresponds to a decline of just under 16 %. Nevertheless, this result represents the third best start to the year in the last ten years. There are two main reasons for the somewhat more moderate result. On the one hand, as in the last two years, record figures in the first quarter in particular depend on individual major deals. However, these are not always completed at the beginning of the year. On the other hand, there is still a supply shortage, particularly in the central locations, which makes it more difficult to fully meet demand. Against this backdrop, the achieved result indicates that demand remains strong. In a nationwide comparison, Munich still had to leave the lead to Berlin and took second place behind the capital city. Among the largest deals were a lease from Allianz for a good 19,000 m² in the Region North, a contract from Accenture for 12,600 m² in the Centre Fringe South and design offices for 9,600 m².
Read the full report by downloading the PDF document.