EVEN IN THE CRISIS YEAR 2020 ONE OF A KIND
The Berlin office market, like all other office markets, has faced a difficult year. The effects of the Corona pandemic and in particular the first lockdown have been and continue to be clearly noticeable. However, the federal capital demonstrates its great potential in these times of crisis in an impressive manner. As expected, the record result from the previous year was missed by 30%, but with a take-up of 710,000 m² Berlin clearly beats its big competitor Munich (568,000 m²). The take-up volume is also quite respectable in a long-term comparison. Certainly, the Corona year 2020 did not match the successful years from 2015 to 2019, in which Berlin finally developed into the most important German office market and was able to catch up with the other European metropolises. Nevertheless, the letting performance is well above the annual results that were usual until 2014 - not to mention that Berlin did not record any take-up beyond 600,000 m² until 2014 and that in the decade between 2005 and 2014 only 510,400 m² were let on average annually. The very strong final quarter of 2020 with 228,000 m² of take-up already indicates that the story of the capital will soon continue with above-average take-up.
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