Skip to main content Skip to footer

Munich: Office Leasing Q2 2020

Download Report
The Munich office letting market came through the Corona crisis relatively unscathed in the first half of 2020 and achieved a take-up of around 326,000 sqm. This is a decrease of 23% compared to the previous year but only 8% lower than the 10 years average. The letting take-up excluding owneroccupiers was 321,100 sqm. Three lease contracts exceeded the 30,000 sqm mark. Vacancy increased by 223,900 sqm year-over-year to 614,500 sqm. The vacancy rate of 2.7% remains at a low level. Within city limits it is only 1.9%. An average rent of €22.10/sqm represents an increase of 16% over the previous year. Within city limits the average was €24.90/sqm, in the periphery €12,50/sqm. Currently 876,000 sqm of office space are under construction, 68% of which is already occupied. The availability of space in buildings under construction is higher than in recent years, which can ease the shortage of space. For the next quarters we expect lower demand due to the recession caused by Corona and as a result slower rent price increases or stable rents until the
economy recovers from COVID-19 crisis.

Munich

Munich: Office Leasing Q2 2020

Download Report
Related Experts

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). 

View expert

Tobias Seiler

Director

Munich

Tobias joined Colliers International, Munich in 2011 after studying urban geography, economics and spatial planning at Ludwig-Maximilians-University in Munich. As a Analyst he is responsible for monitoring and analyzing the commercial real estate market of Munich and Bavaria. Therefore he compiles quarterly market reports and supports the letting and investment teams. Tobias also acts as a consultant for various clients such as developers, institutional investors, asset manager, tenants and offering specific market- and project-analysis as well as market opinions and buy-side advisory services.​ 

View expert