TAKE-UP ABOVE PREVIOUS YEAR'S LEVEL
The German office markets continued their recovery in the second quarter. Despite the significant increase in geopolitical and economic uncertainties since the outbreak of the Ukraine war, letting activity accelerated in the spring. A total of around 1.82 million m² take-up was registered in the first half of the year at the eight locations of Berlin, Düsseldorf, Essen, Frankfurt, Hamburg, Cologne, Leipzig and Munich. This exceeds the previous year's result by 34% and the current result is just under 10% above the 5-year average as well as 12% above the 10-year average. Worth mentioning is that on average the markets lately perform at a level equivalent to that of 2018.
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