According to Savills, the transaction volume for office property in the first three quarters of 2026 totalled just under 3.2 billion euros. This represents a 13 per cent decline compared with the same period last year. During the same period, Savills recorded 104 transactions, which is 9 per cent fewer than in the corresponding period last year. Prime office yields rose in all six leading markets* in the third quarter. On average across all markets, they stood at 4.53 per cent, representing an increase of 16 basis points compared with the half-year figure.
Karsten Nemecek, Deputy CEO for Germany and head of Capital Markets at Savills, comments on market developments as follows: “The numerous aborted attempts to sell properties, such as the Opernturm in Frankfurt, show that selling an office property is by no means a foregone conclusion in the current market environment. Particularly in the large-scale segment, the market currently appears capable of absorbing only a few properties per year. At the same time, there have been sales across all risk categories in recent months. The resulting price transparency makes it easier for market participants to determine prices, and this could help ensure that transaction processes are concluded more quickly again in future. The steadily rising number of sales processes is also a positive sign.”
Around 70 per cent of the transaction volume was accounted for by the top six markets*, where transaction volume remained stable compared with the same period last year. The number of transactions in the top six markets* fell by 17 per cent. Both figures remain well below the 10-year average.
* Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne and Munich
