Nuremberg: Office leases down 17 % due to lack of available space

22/02/2019

Nuremberg’s office lease market saw take-up of about 138.000 sqm in 2018, according to a market report by Küspert & Küspert. Take-up thus decreased by 17 % compared to the previous year, but a six-figure value was achieved for the third consecutive year. The decline is due entirely to the lack of available space, the consultancy states. In particular, hardly any high-end properties have been on the market. Also, there was only one deal with more than 10,000 sqm floor space: Design Offices leased 11,000 sqm in the “Tafelhof Palais” project. Top rents climbed substantially by 11.4 % to €16.10/sqm. Average office space went for €11.10/sqm (+1.4 %). Küspert & Küspert does not expect the situation to change in 2019 and 2020. Pre-letting rates, the firm explains, are already showing that demand is significantly outstripping supply.


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