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Top 7 Office Markets

Germany Office letting – April 2020

Report

Autoren: Matthias Pink , Panajotis Aspiotis

Reihe: Savills Market in Minutes

Anbieter: Savills

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  • Erscheinungsweise: Quartalsweise
  • Berichtszeitraum: 1. Quartal 2020
  • Erscheinungsdatum : 09.04.2020
  • Seiten : 2 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 109,49 kB
  • Sprache(n) : Englisch

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Inhalt

The COVID 19 pandemic has sent the world into a state of shock. During the past few weeks, the effects could also be felt in the top 7 office markets. However, the crisis has so far hardly been re-flected in the traditional office market figures. Although office space take-up declined in six of the seven markets and was 25% below the previous year's value, the vacancy rate remained un-changed at 3.1% and the prime and average rents even rose slightly. On average the prime rent rose by 0.7% year-on-year to just over €33 per sq m/month in the top 7 office markets. In the same period, the average rent grew by 1.2% and currently stands at around €19 per sq m/month. In the upcoming weeks and months, however, the demand for office space is expected to decline. Ongo-ing rental processes will continue, but new processes are hardly being started at present. Tenants who were previously looking for space are now more likely to choose the path of contract exten-sions. This office space take-up will be missing this year.

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