ABOVE-AVERAGE TAKE-UP
Despite all the adversities, the German office markets stayed on course in the third quarter, and in many markets letting activity even increased further during the summer months. Overall, take-up in the eight locations of Berlin, Düsseldorf, Essen, Frankfurt, Hamburg, Cologne, Leipzig and Munich totaled 2.7 million m² by the end of September. This exceeded the result for the same period last year by a good 21% as well as the 10-year average by 3%. It is particularly noteworthy that, despite the further deterioration in the economic outlook in the summer months, letting activity in the third quarter rose by 2% compared with Q3 2021 and still passed the 900,000 m² mark.
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