GOOD START TO THE YEAR
The Frankfurt office market starts the new year with a take-up of 82,000 m². Compared to the previous year, this represents only a decline of just under 8%. A decent result was also registered in the more narrowly defined gif area, and at 76,000 m² it is actually just around 4% lower than in 2019. The crucial reason for the slightly lower take-up can be seen in the fact that so far only one large deal for more than 5,000 m² was concluded in the first quarter. In a long-term comparison, these size categories account for around one third of take-up. However, since these contracts are usually not evenly distributed over the year, the first quarter in particular often shows larger differences in take-up, that can be attributed to this. By contrast, lively demand was observed in the small and medium-sized market segment. Around 55% of the result is attributable to inner city locations, with the banking district standing out with almost 24,000 m² (29%). The largest lease to date by Freshfields Bruckhaus Deringer for 14,500 m² also contributed to this figure. No major effects of the corona crisis have yet been observed in the first quarter.
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