JLL: Nuremberg's office market benefits from larger lettings

"The positive development in the first half of the year shows that demand for office space in Nuremberg remains solid, with demand for both modern and central space in particular," says Julia Schreiter, Metro Lead Office Leasing & Investment JLL Nuremberg. "However, the damper in the second quarter is a clear sign that supply in the sought-after locations is still tight."

Relief is only limited in sight. Although 56,700 m² of new office space had been completed by the end of the second quarter, which is more than three times the same period last year (16,700 m²), the largest projects, such as in Lichtenreuth in the southern submarket and a property on the Evangelical Campus, are for owner-occupiers. A further 65,400 m² are currently under construction in Nuremberg. Most of this is 29,200 m² in the inner city belt submarket, and only 100 m² less in the northern submarket.

The extensive completions are also temporarily affecting the vacancy rate. The rate rose from 8.0 percent to 9.4 percent year-on-year. "However, the increase should be a temporary phenomenon, because it can be assumed that the modern spaces will be successively absorbed by the market," Schreiter classifies the increase.

At 19.50 euros/m², the prime rent remained stable at the previous year's level. The weighted average rent fell slightly and is now 12.47 euros after 12.69 euros in the previous year.

"For 2026 as a whole, we expect take-up of 100,000 m² and a prime rent of 20.00 euros/m²," says Schreiter , looking ahead to the coming months.