OFFICE MARKET CONTINUED ITS UPWARD TREND
With a take-up of 746,000 m², the Munich office market exceeded the previous year's result by 13% and continued its upward trend started at the end of 2021. Despite the difficult macroeconomic conditions, particularly in the second half of the year, the result is almost exactly in line with the ten-year average. Expectedly the year-end rally in the fourth quarter was slightly weaker than usual. In a nationwide comparison, the Bavarian capital ranked second place, just behind Berlin. It is pleasing that take-up is broadly spread across all market segments and size classes and is not disproportionately influenced by a few large deals. The most important contracts include 40,000 m² by Personio GmbH in the city centre, around 20,000 m² each by TÜV Süd AG in the municipal area west and Bosch Building Technologies in the municipal area south, as well as 17,300 m² by ProSiebenSat.1 Media in the region north submarket.