For Germany's most important office strongholds Berlin, Düsseldorf, Essen, Frankfurt, Hamburg, Cologne, Leipzig and Munich, take-up of 1.3 million m² was recorded at the end of the first half of the year. This means that the market as a whole is moving sideways. In a market environment that remains challenging, Berlin and Munich once again take the lead. The increase in sales here amounts to 51% and 38% respectively in a direct year-on-year comparison. This is the result of the analysis by BNP Paribas Real Estate.
The most important results at a glance:
- Take-up of 1.3 million m² (-5% compared to H1 2025)
- Vacancy volume at 9.1 million m² (+9% compared to H1 2025)
- Construction volume continues to decline to 2.2 million m² (-10% compared to H1 2025)
- Rent levels continue to rise – prime rent in Frankfurt now at €57.00/m²
"The German office markets are convincing in the first half of the year with a sideways movement. In view of the continued weak economic momentum and the additional burdensome conditions since the outbreak of the Iran war, the registered take-up of 1.3 million m² and thus the achievement of the previous year's level can be regarded as a success. The markets are proving their resilience. The basic dynamic is intact. Driven by significant major deals, take-up in Berlin, Düsseldorf, Frankfurt and Munich has recently even increased," explains Marcus Zorn, CEO of BNP Paribas Real Estate Germany.
Berlin and Munich are by far the markets with the highest turnover
The Berlin office market is making an impressive comeback. With take-up of 373,000 m² and a take-up increase of 51% compared to the previous year, the German capital is back at the top of the most important office markets. The current half-year result, which is almost 10% above the long-term average, was due in particular to the increased number of major deals. The public administration stands out with two degrees in self-interest. The Federal Ministry for Economic Cooperation and Development will be expanded by 31,500 m², and the Berlin city cleaning service will move into a good 16,000 m². The signing of JetBrains' lease agreement for 18,500 m² is also a signal. The software provider is thus sending a clear signal for Berlin as an ICT location. A total of four contracts for 10,000 m² of rental space are registered for the federal capital in the first half of the year. All of them with new-build first-occupancy quality, which impressively underlines the focus on demand for top space, especially in the case of large contracts. In Munich, too, four major contracts made a decisive contribution to the significant increase in take-up. At 354,000 m², the previous year's result was equalled by 38%. The market is thus back in line with the long-term average. As in Berlin, there are four major contracts that are of significant importance, including the new Apple building (for its own use) with around 29,000 m².
