Quiet start on the Leipzig office market - low take-up in the mid-range space segment

The vacancy rate at the end of March 2026 amounted to 235,000 m², which corresponds to an increase of 24% year-on-year. Only 46% of the vacant space corresponds to the modern and highly sought-after furnishing standard. In this segment, a decline of 7% was recorded in the first quarter, which underlines the high demand for this space. The vacancy rate rose slightly to 5.8% and thus remained just above the fluctuation reserve.

The space under construction has fallen noticeably to 51,000 m² within the last twelve months (-52% compared to Q1 2025). The volume of space still available under construction has also declined and is now trading at only 23,000 m². This impressively shows how quickly new high-quality space is absorbed by the market.

"Leipzig's office market has made a very cautious start to 2026. At the moment, there is a particular lack of medium-sized and large contracts, which often drive up sales, especially in smaller markets. The current volatile market environment is also slowing down leasing momentum. A weakening economy as well as macroeconomic and geopolitical uncertainties continue to characterize the situation. However, if the economic situation improves, there could also be an increase in demand for office space in Leipzig, so that a solid result for the year as a whole seems possible. The applications currently on the market also allow a positive outlook for the coming months. A result slightly above the previous year's figure of 85,000 m² is realistic," says Hannes Baderschneider, Leipzig branch manager of BNP Paribas Real Estate GmbH.

On the supply side, a further increase in vacancies is expected on the coming quarters. At the same time, the supply of high-quality office space, especially in central locations, is likely to remain scarce.

Against the backdrop of the demand structures outlined above and the simultaneous shortage of premium space in prime locations, it can be assumed that the pressure will remain high for the rest of the year, but the already high prime rent should maintain its reached level for the time being.

Link to the market report