STRONG RESULT AFTER NINE MONTH IN 2026
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With take-up reaching 485,000 sqm, Munich recorded strong first nine months of 2026 despite the challenging economic environment and ongoing geopolitical uncertainties. Although market activity slowed down somewhat in Q3, with approximately 131,000 sqm compared to 172,000 sqm in Q1 and 182,000 sqm in Q2, total take-up still exceeded the prior-year figure by 19%. Munich is thus one of the few German office markets to report rising take-up and maintained its position in the national ranking in the third quarter, narrowly behind Berlin (541,000 sqm) and still well ahead of Frankfurt (300,000 sqm).
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Demand remained vibrant across almost all size categories. Particularly noteworthy was the above-average volume of medium-sized lettings between 2,000 and 5,000 sqm, which accounted for nearly 22% of total take-up, equivalent to around 106,000 sqm. Large-scale contracts exceeding 10,000 sqm also made a significant contribution, representing almost 18% of overall take-up. However, no lease in this range was registered in the third quarter. Consequently, the largest letting recorded so far this year remain the 21,500 sqm letting to E.ON, brokered by BNP Paribas Real Estate, followed by JetBrains' 21,000 sqm contract at Tucherpark.
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The positive market performance and strong occupier demand for high-quality space in attractive locations are particularly evident in the prime segment. Prime rent increased by 9% y-o-y to €60/sqm, while the average rent remained stable at €26.90/sqm.