Area turnover of the top 7 office markets Q1-3/2024: increase & trends in the rental sector analyzed
Area turnover of the top 7 office markets Q1-3/2024: increase & trends in the rental sector analyzed
At the end of the third quarter of 2024, area sales in the top 7 office markets reached around 1.9 million square meters, which corresponds to an increase of around 14 % compared to the same period in the previous year. The increase in Stuttgart is particularly striking, where the sales turnover increased by 40 %. While large companies are still reluctant to rental, the public sector shows a proactive tendency to rent in many markets. The vacancy has increased overall, and the average rents vary greatly in the different cities, with Stuttgart being able to increase the average rental by 14 %.
The development of area sales in Stuttgart represents an important local trend that is influenced by various factors. In recent years, the city has experienced a variety of new office projects that create attractive conditions for both small and medium -sized companies. This development is of particular importance, since Stuttgart is not only an important economic center within Germany, but also has a high quality of life that attracts specialists.
The above data are in the context of the fluctuating economic situation in Germany. The overall economic pressure and uncertainty have caused many large companies to rethink their rental strategies, while small and medium -sized companies can often act more flexibly and need more space to grow. This could be a long -term trend from which Stuttgart benefits because the city houses numerous startups and innovative companies that are able to adapt to changed market conditions.
The following table provides an overview of the area sales and vacancy rates in the top 7 office markets in Germany:
| Stadt | Verkehrs sales (in m²)
| vacancy rate (%)
| ||
|---|---|---|---|---|
| Stuttgart | unknown (40% increase) | +40 | unknown | unknown (increase by 14%) |
| Munich | 436.500 | +37 | unknown | 30.05 |
| Berlin | 420,000 | +31 | unknown | unknown |
| Hamburg | unknown | -8 | 10.6 | unknown |
| Düsseldorf | unknown | -7 | unknown | unknown |
| Frankfurt | unknown | -6 | 10.6 | unknown |
| Cologne | unknown | unknown | unknown | unknown |
Overall, the current development indicates a change in the office property market, which brings with it both opportunities and challenges for companies in Stuttgart. Local actors in the real estate sector should keep an eye on the market developments in order to be able to react adequately to changes.
Source: German Property Partners/OTS
Kommentare (0)