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Berlin: Office Letting H1 2020

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After a modest start to the year and three months into the COVID 19 pandemic nearing the end of Q2 2020, the Berlin office leasing market has remained relatively robust. The market continues to be dominated by public administration, which has always been financially strong and crisis resistant. Three leases have been signed for more than 10,000 sqm to date, with Deutsche Rentenversicherung securing the largest of the three signed for over 84,000 sqm. Despite the pandemic, office rents remained high throughout the city in the first half of the year. However, we do expect to see slight declines in light of recent shifts in office market trends. The vacancy rate will most likely level off somewhere between 1.5% and 1.8% by the end of the year. A number of companies are currently on the market for large scale space, putting annual take up for 2020 realistically at between 700,000 sqm and 750,000 sqm, almost precisely level with the 10 year average of 750,500 sqm.

Berlin

Berlin: Office Letting H1 2020

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Susanne Kiese

Head of Market Intelligence & Foresight | Düsseldorf

Duesseldorf

Susanne joined Colliers International Holding GmbH in February 2016 as Head of Research Germany. Before, she worked as a Senior Research Analyst for Hypothekenbank Frankfurt / Eurohypo, a specialist bank for real estate and public finance for almost 12 years. Susanne was also Research Analyst with Deutsche Gesellschaft für Offene Immobilienfonds (DEGI) GmbH, the property related investment company of Allianz Dresdner Property Group (now part of Aberdeen). 

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