Munich's market players started the new year very restrained. At the end of the first quarter, a take-up of only around 104,000 m² was reported. This means that the previous year's result was clearly missed by 42%. Therefore, the ten-year average, which amounts to a good 176,000 m², was not achieved. It is mainly the lack of major contracts that is responsible for the below-average result. By the end of March, no lease beyond 10,000 m² had been successfully concluded, which is unusuall for the Bavarian capital. The important mid-sized segment between 5,001 and 10,000 m² was also characterised by a somewhat subdued activity, with only two contracts for a total of around 16,000 m². On the other hand, considerably more dynamism and a take-up of almost 20,000 m² (+40 % compared to Q1 2020) is registered in the size category 2,001 to 5,000 m². Although the leasing volume for smaller spaces is also below its average level, the players are certainly active these days.

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