Rental result halved year-on-year
The Frankfurt office market picked up some speed again in the second quarter of this year. With take-up of 101,700 m², the letting result was significantly higher than in the first quarter (75,200 m²). Compared to the previous year (146,100 m²), however, there is a decline of almost one third. In total, take-up in the first half of 2026 thus amounts to 176,900 m² – half as much as in the same period in 2025.
In contrast to the previous year, there are currently hardly any large-volume office leases in Frankfurt. Only DZ Bank’s owner-occupier deal for 21,200 m² at Mainzer Landstraße 50 cracked the 10,000 m² mark in the first half of the year. This is followed by several medium-sized deals, including the lease of the law firm Willkie, Farr & Gallagher at Opernplatz 2 for 5,900 m². According to market circles, the rent is beyond the 70 euro mark. “This is an absolute prime property in Frankfurt, for which correspondingly high rents are paid,” commentsSuat Kurt, Senior Team Leader Office Leasing and Branch Manager JLL Frankfurt. Half of the building space is still vacant and Kurt expects it to be rented out in several smaller deals this year. “The T1 office tower in the Four should also be fully let in the coming months. From this point on, there will be no more available new construction space in the city,”Kurt clarifies.
The demand for high-priced top space in Frankfurt continues unabated. Kurt estimates the current applications for the Frankfurt CBD at 150,000 to 200,000 m². In view of the shortage of space, some of this could migrate to neighboring locations, such as around the trade fair. Kurt expects that there will be several deals here. “The pressure on users is high. If you hesitate too long, you won’t get a chance or have to resort to the B or C variant.”
Due to the excess demand, office rents in Frankfurt are rising continuously. At its peak, 55 euros/m² are currently being called, compared to 52 euros/m² a year ago. By the end of the year, Kurt predicts a further increase to at least 56 euros/m². There are signs of stabilization in the vacancy rate. The vacancy rate is currently 11.1 percent, one percentage point higher than the previous year’s figure. The banking district continues to dominate the office leasing market with a share of 25 per cent of take-up, followed by the city centre (16 per cent), the airport and the trade fair (seven per cent each).
Kurt expects one or two larger leases to be concluded by the end of the year: “The stronger quarters are still ahead of us, so I am optimistic that the 500,000 m² mark will be reached this year.”
