IVD: Office rent is climbing, particularly in smaller cities
Rents for office space have increased in virtually all German cities and locations. The strongest plus compared to last year was recorded in cities of 100,000 to 200,000 inhabitants on spaces with simple utility value (3.56 %), according to the current IVD commercial rent report. In cities of 200,000 to 300,000 inhabitants and those over 300,000 residents, rent prices for simple spaces also climbed more than those in the medium to upper segment. Cities of less than 100,000 residents also saw rent increases in all locations. The only exception was recorded for simple utility spaces in towns under 30,000 (-0.48 %). In the medium and upper locations of these smaller cities, however, rents did rise by 1.33 and 0.76 % respectively. The report indicates that this points toward “a very healthy office market overall.”
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