Berlin office rents rise by almost 80% in the last ten years
Berlin has clearly outpaced the other top German markets in rent price growth in recent years, as seen in the commercial rent price index GIMX assembled by Immobilienscout24 and economic institute IW Köln. From 2008 to the end of 2018, office rents in Germany’s capital rose by a hefty 79.9%. Munich followed by a wide margin (35.6%); Düsseldorf showed the lowest rise (16.8%). Falling in between are Stuttgart (30.8%), Hamburg (26.6%), Cologne (20.2%) and Frankfurt (18.4%). Berlin also outperformed all other top markets in retail rents with +51.4%. However, the margins here are narrower, with Frankfurt in second place with almost 40%. Office rents have risen steadily in all markets over the last ten years while retail rents dropped by 11.1% in Hamburg and 3.9% in Stuttgart between the end of 2017 and the end of 2018.
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