Office leases: Second-best year after 2017


Despite high demand for space, office leases in the German top markets fell short of last year’s record total. Nevertheless, the top 7 still recorded a very good result with take-up of nearly 4 million sqm (-6 %), as JLL and Colliers International report. According to JLL, the 10 % increase in net absorption shows just how high demand for space was. BNPPRE calculated a 7 % minus in take-up to 4.02 million sqm and calls it the second-best result ever achieved. Savills comes up with 3.7 million sqm (-3 %) for the top 6 markets. Most brokerages agree that take-up fell short of last year in all top markets except for Düsseldorf; the strongest market was Munich, followed by Berlin and Frankfurt. The two largest deals, according to German Property Partners, were two owner-occupant transactions: Robert Bosch in Stuttgart (50,000 sqm) and Beiersdorf in Hamburg (45,000 sqm). The decline in take-up is widely expected to continue in 2019, with rent prices rising further.

TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.