PRECISION LANDING FOR TAKE-UP IN Q3
The Munich office market remained very stable at a high level in the third quarter. As in the previous quarter, take-up totaled 201,000 m². A precision landing, which at the same time contributed to a significantly above-average result at the end of the third quarter. In the first nine month, a take-up of 592,000 m² (incl. 64,000 m² owner-occupiers) was registered. This exceeded the 10-year-average by 12% and the previous year's result by 34.5%. The market is currently at the high level of 2017. In the summer months, it was primarily the strong letting activity in the mid-size segment that caused a lot of movement in the market, whereupon take-up in almost all size classes below 10,000 m² recently increased. In contrast to the previous quarter, only one deal involving more than 10,000 m² of lettable space was reported, although this is also the largest of the year so far: Personio GmbH will obtain around 40,000 m² of office space.