Half-year results 2026 - Aengevelt Research analyzes declining sales in the Frankfurt office market.

• Downwards: Office space take-up almost halved.

• Upwards: Supply reserve continues to grow.

• Increase: Prime rent level is rising.

• According to analyses by Aengevelt Research, theFrankfurtoffice market achieved office space take-up (including owner-occupiers) of approx. 177,000 m². Compared to the same period last year (1st half of 2025: 344,000 m²), this represents almost half of the year. The decade average ( Ø 1st half 2016 - 2025: 215,500 m² p.a.) is missed by 18 %.

In addition, Frankfurt has thus fallen from 1st place in the same period of the previous year to 4th place among the office markets with the highest turnover in Germany in the first half of 2026, behind Berlin (380,000 m²), Munich (355,000 m²) and Hamburg (185,000 n²).

• For2026 as a whole, Aengevelt forecasts office space take-up of around 400,000 m² in Frankfurt. This value would be around 29% below the previous year's figure (2025: approx. 564,000 m²) and the level of the ten-year average (Ø 2016 - 2025: 486,000 m²) would also be missed by around 18%.

• After thesupply reserve available at short notice(ready for occupancy within three months) in Frankfurt fell significantly in 2022 compared to the previous year from around 1,030,000 m² to around 940,000 m², it increased again by around 110,000 m² to around 1,050,000 m² by the end of 2023.

• Bythe end of June2026 Aengevelt Research analyses a further increase in the supply reserve of around 13% to approx. 1,390,500 m². Compared to the same time last year (end of June 2025: 1,290,000 m²), this represents an increase of approx. 8 %.

• Thevacancy ratehas correspondingly increased from around 11.3% at the end of June 2024 to approx. 11.6% with a total office space stock of around 12 million m².

• Bythe end of 2026, Aengevelt Research forecasts a further slight increase in the supply of office space to approx. 1,420,000 m².

For 2026 Aengevelt Research forecasts a completion volume of approx. 120.000 m². The would be twice as much as in 2025 (approx. 60,000 m²). The value would thus be nevertheless by approx. 12 % below the decade average (Ø 2016 - 2025: 136.400 m² p.a.). In addition, in view of the current framework conditions , additional crisis-related delays in completions are possible.

• Despite a growing supply reserve, theprime rent in Frankfurt rose by 7% year-on-year to EUR 55/m² by the end of June 2025 (End of June 2025: EUR 51.50/m²). This is due to the increasing demand for modern office space that is as ESG-compliant as possible, which is still in short supply in Frankfurt. Accordingly, up to At the end of 2026, an overall stable prime rent level can be assumed.

•  Themedianrent in city locations also increased , by 8% to currently EUR 33.50/m² (end of June 2025: EUR 31/m²).