Lack of supply in the centre is pushing down take-up
NUREMBERG, 27 January 2026 – Nuremberg's office leasing market experienced a year of light and shadow in 2025. Initially, the market had taken the momentum from the strong year 2024 with take-up of 60,100 m² through 112 deals in the first half of the year. However, in the second half of the year, only 81 further lettings with a total of 37,200 m² were added, so that at the end of the year there was 97,300 m², a minus of 17 per cent compared to the previous year. In a long-term comparison, Nuremberg also undercut its own ten-year average by ten percent.
"The larger transactions were largely implemented in the first half of the year, including Elektrobit Automotive's largest deal at around 7,000 m² in the Marienberg Center at Marienbergstraße 76-82," says Julia Schreiter, Metro Lead Office Leasing & Investment JLL Nuremberg. "Meanwhile, the low take-up in the second half of the year is due to both fewer and significantly smaller deals." Only one letting of 4,500 m² exceeded the 2,500 m² mark during this period.
Overall, the number of lettings in the upper size categories fell year-on-year – from two to one in the 5,000 m² to 10,000 m² segment, and from seven to five in the next smaller segment of 2,500 m² or more. The 1,000 m² to 2,500 m² class also lost five degrees and only managed ten. In the last quarter in particular, the average deal size fell to 389 m², compared with 732 m² in the previous year. "However, this is not due to demand, which continues to be good. Rather, it is the supply side that is slowing down take-up. And above all the location, because there are enough properties that meet all the criteria, but are not centrally located," Schreiter classifies the development at the end of the year.
This is also reflected in a comparison of the sub-markets, where the inner city belt with 25,500 m² has only just under half of the previous year's turnover, but is still clearly ahead of the east with 21,400 m². Meanwhile, the city centre recorded the third most deals with 31, but achieved a total of only 6,800 m², which means an average rental size of just under 220 m².
A total of 38,700 m² of new office space was completed last year. Currently, 98,700 m² are also under construction in Nuremberg – most of it with 39,900 m² in the inner city belt submarket. However, there are no office developments in the city centre itself. Against this background, the vacancy rate has risen from 7.7 percent to 8.9 percent. The sought-after sub-markets of the inner city belt (7.6 percent), inner city (4.9 percent) and south (3.6 percent) are below.
