ABOVE-AVERAGE RESULT IN H1 2026
-
Despite the subdued economic environment, ongoing geopolitical uncertainties and structural changes on the demand side, the Munich office market remained stable at a high level. With take-up of 354,000 sqm, the Bavarian state capital recorded a strong first half of 2026. The momentum from the first quarter, with 172,000 sqm, continued in the second quarter with a further 182,000 sqm. As a result, the subdued previous-year result was exceeded by around 38%, while the ten-year average was surpassed by a good 4%. Munich is therefore one of the few German office markets with rising take-up volumes and, alongside Berlin, the only location to achieve a result above its long-term average.
-
Although lively demand can be observed across almost all size categories, large-scale lettings above 10,000 sqm made a particularly significant contribution to the strong half-year result. They accounted for an above-average market share of just under 24%. Also noteworthy is the volume of medium-sized deals between 2,000 and 5,000 sqm, which registered the highest take-up since 2019, accounting for almost 24% of the total. The most important contracts in the first half of the year include Apple's owner-occupier new-build project with 29,200 sqm in Munich's city center, as well as the largest letting of the current year: the 21,500 sqm lease by E.ON, which was brokered by BNP Paribas Real Estate.
-
The high demand for modern and high-quality space is also reflected in rental development. The prime rent increased year-on-year to €59.50 per sqm, representing growth of around 8%.