Take-up in Germany’s eight main office markets – Berlin, Cologne, Düsseldorf, Essen, Frankfurt, Hamburg, Leipzig and Munich – totaled around 3.49 million sqm in 2015, a more than 20-percent increase from the previous year, according to BNP Paribas Real Estate.
“This very good result was due primarily to the extremely strong final quarter, which by itself generated take-up of 1.08 million sqm. The only quarterly performance to better this was the period October-December 2006. Large leases upwards of 5,000 sqm, which had been distinctly under-represented the year before, were back closer to their long-term average, contributing a share of just over 29 percent,” said Marcus Zorn, Deputy CEO of BNP Paribas Real Estate Germany.
Berlin came in first with 814,000 sqm, a year-on-year increase of nearly 34 percent. Munich followed with 741,000 m2 (+24 percent), while Hamburg came in third with 529,000 sqm (+3 percent).
