Leipzig also running out of office space – take-up approaching record levels
Office space take-up in Leipzig during the first half-year was again significantly higher than the average of recent years. While Aengevelt calculated roughly 71,000 sqm, about the same as a year ago or 51 % above average, BNP Paribas Real Estate (BNPPRE) arrived at a new record total of about 80,000 sqm, which “would represent an above average result even after three quarters”. In consequence of the high level of take-up, office vacancies have again dropped substantially (about -1.5 percentage points). Though there is more construction of new spaces (currently about 45,000 sqm), most of those properties are already taken. Aengevelt records top rents of €13.00/sqm, BNPPRE logs €13.50/sqm. According to that information, average rent prices have therefore increased by 11 % since the middle of 2017.
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