Consensus forecast: Vacancies on the rise, but so are prime rents


While the top 5 German office leasing and investment markets are currently still in good shape, the latest Consensus forecast by gif and CRES expects some indicators to worsen in 2020. In particular, vacancies in Berlin and Munich could increase again for the first time in many years. The majority of researchers believe this to be probable in light of the slowing economy and the now well-filled new construction pipeline, the forecast states. For prime rents, on the other hand, further growth is expected: an average of 8 % in Berlin by 2020. Yields are not anticipated to change in 2019 or 2020. In 2018, the top 5 markets developed better than experts had predicted in many aspects, most of all top rents in Berlin, which increased by 12 %, and for vacancy reduction in Frankfurt and Düsseldorf.

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