Office market: JLL performance indicator Victor’s rise slows
JLL’s proprietary Victor Prime Office Indicator experienced considerable slowing in the second quarter. The rise of Germany’s five prime office markets slowed to +0.8% after a 1.9% increase in Q1. The increase is now exclusively due to rental price growth caused by supply bottlenecks on the rental markets. There were no changes in prime yields. Hamburg stands out with a slightly above-average performance increase of 2.0%. Berlin’s city center and Düsseldorf’s banking district each showed a quarterly increase of 0.7%, Frankfurt’s banking district 0.6% and Munich’s 0.4%. Victor remains stable for the year as a whole with an average of +6.4% due to stronger past quarters.
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