VERY SOLID FIRST HALF-YEAR, TAKE-UP AT PRIOR YEAR'S LEVEL
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With take-up totalling 59,000 sqm in H1 2024, the Leipzig office market recorded a comparable volume as in the same period of the previous year (62,000 sqm). The solid result is in line with the long-term average (59,100 sqm). Four large deals of over 5,000 sqm each made a significant contribution to the half year result. These include two owner-occupier deals for public administration of 5,000 sqm and 6,000 sqm respectively and coworking space of over 5,000 sqm. At 6,500 sqm, the largest deal is attributable to the EEX energy exchange in the CBD.
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A strong driver of take-up in the first half of the year was consequently the above-average proportion of larger contracts for between 5,000 sqm and 10,000 sqm of space at 21% (10-year average: 9%). The segment of medium-sized spaces between 1,000 and 5,000 sqm generated a share of 43%, which is above the long-term average (32%). Strikingly, and not only in comparison to the other top locations, letting activity in the small space segment (up to 1,000 sqm) was significantly less dynamic than on average (57%) with a share of only 37%.
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Starting from a comparatively favourable price level, the prime rent has risen by 5% to € 20.00 per sqm in the past three months. Compared to the same period last year, this represents an increase of around 8%. In some cases, significantly higher rents are already being achieved for central, modern space. The generally more volatile average rent has also risen by around 5% in the last 12 months to currently €12.50 per sqm.
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