AGAIN GOOD LETTING PERFORMANCE: IN LINE WITH AVERAGE AND ALMOST ON A PAR Y-O-Y
-
Leipzig's office market was once again characterized by consistent letting activity in the first three quarters of 2024: with take-up of 91,000 sqm at the end of September, Leipzig is on a par with its ten-year average of around 94,000 sqm (-3 %). Observing that the highest interim result from 2021 was only 19% higher at a good 113,000 sqm is indicative of the fact that the Leipzig market is not characterized by exceptional results, either on the upside or on the downside.
-
Looking at the third quarter separately, a total of 32,000 sqm was let, with the largest deal of the current year making a decisive contribution to this: from mid-2027, the Leipzig gas group VNG is planning to relocate its headquarters from Leipzig-Schönefeld to the Ringlage and has rented office space of more than 10,000 sqm in the former Telekom administration building near Johannisplatz for this purpose.
-
This deal reflects the nationwide trend in which companies often opt for central and well-connected locations. The fact that Leipzig's city centre and centre fringe locations collectively account for 78% of take-up confirms this trend.
-
As the market continued to develop favorably, prime rents reached the €20 per sqm mark for the first time over the course of the year and even exceeded this mark in individual contracts. The average rent is currently quoted at €12.80 per sqm and continues to show a slight upward trend.
Read the full report by downloading the PDF document.