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Stuttgart: Office Leasing H1 2020

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Activity on the Stuttgart office leasing market was more subdued in H1 2020 than in previous years due to the pandemic. The city posted roughly 77,300 sqm in take up, just over half of the previous year’s H1 result (about 141,700 sqm). This is the lowest H1 result recorded in Stuttgart in the past 10 years. With 81 leases signed, H1 2020 also fell short of the leasing activity recorded in previous years. The vacancy rate proved relatively resilient to the impact of the pandemic with just a slight increase, and prime and average rents
even managed to set new records, up to €25.50 per sqm and €17.00 per sqm, respectively. This increase in rents can be attributed to limited supply, which has been a constant on the Stuttgart office leasing market for years. The current crisis will continue to dampen activity on the Stuttgart office leasing market throughout the year. However, since the city boasts a robust market, we expect 2020 annual take up to come in at between 150,000 sqm and 170,000 sqm.

Stuttgart

Stuttgart: Office Leasing H1 2020

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Susanne Kiese

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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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Alexander Rutsch

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