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Munich: Real Estate Market Report 2021/2022

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Optimism following a difficult year

The coronavirus pandemic and its effects dominated 2020 and called into question many things that previously seemed indisputable. The closure or restrictions imposed on a majority of physical shops and restaurants, the shift to working from home, the cancellation of trade fairs and the huge fall in business trips and tourism have also had an effect on the property market. On the whole, the pandemic and the steps taken to tackle it have had a huge impact on Munich’s economy. Retail, hospitality, the culture and tourist sectors, but also core components of Munich’s economy such as the airport or the Messe München have been and continue to be hard hit. Turnover in the manufacturing industry fell by 8.8% in 2020. For the first time in many years, 2020 saw a rise in unemployment, by 1.2 percentage points to an average of 4.5%. However, this is still below the unemployment rate in most German cities even before the pandemic.

Resilience thanks to the Munich mix

Munich has already shown on numerous occasions that the city and its economy can weather a storm better than most. One reason is the healthy mix of DAX-listed companies, small- and medium-sized enterprises, and the self-employed. Many important sectors are represented in the city and make up the special “Munich mix”, from information and communications technology to biotech, the automobile industry, finance and insurance, and crafts and trades. Munich is not only home to the headquarters of more DAXlisted companies than any other German city; it also, with 32 global market leaders based here, comes second in the “DDW - Die Deutsche Wirtschaft” rankings for Germany.


Munich: Real Estate Market Report 2021/2022

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Tobias Seiler



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.​ 

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