BERLIN OFFICE MARKET ON THE WAY TO OLD STRENGTH
The Berlin office market carried the dynamic development from the summer months into the last quarter of the year. With 314,000 m², it achieved an outstanding final quarter. Overall, take-up in the Berlin market (including owner-occupiers) amounted to 834,000 m², an increase of around 17.5% on the previous year, which was heavily affected by the Corona pandemic. In addition, the long-term average was exceeded by a good 10%. For the third year in succession, Berlin has thus secured its position as the strongest office market in Germany, ahead of Munich, which currently registered a significantly lower result of 661,000 m². As such, the capital's success story continues unabated. The city' s position is partly due to a record number of leases in excess of 10,000 sqm: There has never been a greater number of leases in this segment. Among the largest are DKB Service, which will occupy 33,500 m² at the Central Station, and deals concluded by the Bundesanstalt für Immobilienaufgaben for 21,400 m² in the Government District and for 19,200 m² in the Wedding/Prenzlauer Berg submarket. At 5%, the proportion of total take-up accounted for by owner-occupiers is at the low level seen in recent years. By far the strongest submarkets in terms of take-up in 2021 were Kreuzberg/Friedrichshain and Wedding/Prenzlauer Berg, with 149,000 m² and 103,000 m² respectively.