UPWARD TREND IN Q3
In the first three quarters, take-up in the entire Frankfurt market area amounted to 241,000 m². The more narrowly defined gif area accounted for 214,000 m² of the total. This represents a year-on-year decline of a good 39%, which is slightly higher than the national average. Only Hamburg and Düsseldorf recorded stronger declines. The effects of the Corona crisis and the lockdown are thus clearly apparent in the banking metropolis, as a number of major lettings have been postponed or put on hold for an uncertain period. Despite this, however, a slight market upswing was noticeable in the third quarter: with a take-up of 108,000 m² from July to September a much better result was achieved compared to the first two quarters. When analysing this result, it should also be taken into account that the share of large deals involving more than 10,000 m², which are generally of major significance for Frankfurt, has remaind disproportionately low at just under 17%. The most important deals include a lease of 16,000 m² from DekaBank Deutsche Girozentrale and a contract for 14,500 m² from Freshields Bruckhaus Deringer, both in the banking district.
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