Office Letting
he Munich office market showed signs of recovery for the first time since the start of the pandemic. The take-up of 440,200 sqm was 5% down yoy, but only in Q3 over 200,000 sqm of take-up was achieved. A main part of the takeup in the last quarter was due to the almost 45,000 sqm lease of the German Patent and Trade Mark Office in a new development near Werksviertel.
Investment
After €922 million in the third quarter, commercial transaction volume summed up to almost €4 billion. Despite the lack of core products, which is having a limiting effect on the market, the previous year's result was exceeded by 16%. In total, office properties accounted for 79% of the total volume in the first three quarters.
