Office-letting market Berlin 2Q2024: Low number of large-volume agreements holds market back
BERLIN / 03.07.2024
In the first half of 2024 take-up of office space in Berlin totalled 291,000 m². This translates into year on year growth of 27 %. Despite this, the final number of agreements for large amounts of space was very limited. A mere 6 contracts for more than 10,000 m² of space have been noted during the year thus far. “The market for small and mid-sized offices is certainly stable. We observe strong ongoing demand for expensive offices in prime locations and note that numerous companies are tending towards smaller, but higher-quality premises. These trends could indicate that less space will be required in future. Our estimate is that the year 2024 could close with a moderate result of round 600,000 square metres,” says Antje Helmer, head of Office-Letting Berlin for Grossmann & Berger Immobilien, member of German Property Partners (GPP).
For market data and top agreements, please have a look at the word document.