SIGNIFICANT INCREASE OF TAKE-UP
The German capital once again leads the ranking of German office markets and puts Munich in second place. The take-up at the end of September amounts to 482,000 m². This means that although the latest result falls 34% short of the previous year's record level, it is only 6% below the ten-year average. The effects of the Corona pandemic are clearly noticeable on the Berlin office market in autumn 2020. Letting activity is currently not very dynamic by capital-city standards, with only 141,000 m² in the third quarter. Large-scale lettings of more than 10,000 m² are making a significant contribution to stabilizing take-up. Their share currently amounts to an above-average 39%. In the third quarter four major deals were completed with a total of around 58,000 m². Leasing activity has remained relatively constant for spaces between 500 and 2,000 m². Their market share is currently 26%, slightly above the previous year's level. Significantly less change is registered for deals between 2,000 and 5,000 m². This applies to both the long-term and the annual comparison. Compared to the strong previous year, the number of contracts has fallen by two thirds (Q1-Q3 2020: 12 contracts), and the letting volume has more than halved to around 40,000 m². Moreover, the ten-year average of 91,000 m² is clearly out of reach.
Read the full report by downloading the PDF document.