TAKE-UP INCREASED COMPARED TO PREVIOUS YEAR
The Munich office market continues to be on the upswing. With take-up of 661,000 m², the previous year's result was exceeded by a good 16%. It is particularly pleasing to note that the second half of the year showed a significant upturn in the market. Both the third and fourth quarter recorded take-up of more than
200,000 m². The result of 221,000 m² in Q4 was already above the ten-year average again. In a nationwide comparison, the Bavarian capital is clearly in second place, beaten only by Berlin. The fact that the overall result is still below average in a long-term comparison is due, on the one hand, to the weak first half of the year and, on the other, to a comparatively low proportion of large deals. Some of these were only concluded again in the second half of the year. The most important contracts include two leases by the German Patent and Trademark Office (just under 45,000 m²) and the Wacker Chemie (a good 14,000 m²), both in Centrefringe East, as well as an owner-occupier deal by the Versicherungskammer Bayern in the Region North for just under 12,000 m².