property
Office emptying in metropolises is increasing: Highest value since 2013
Home office and stimulus: 7.6 million square meters of office space are unused in the largest German cities. The vacancy rate is growing. The market only recovers strongly in a metropolis.
According to the Grandmakler JLL, the proportion of vacant office space in major German cities is as high as it has not been in over ten years. In addition to the trend towards the home office, the economic flakes are noticeable and the uncertainty about US tariffs. This is hesitated by companies in investments and new settings, writes the real estate specialist Jones Lang Lasalle.
The short -term offer of office space in the seven metropolises of Berlin, Hamburg, Munich, Frankfurt, Düsseldorf, Cologne and Stuttgart added up to more than 7.6 million square meters in the second quarter. This corresponds to a vacancy rate of 7.7 percent. “This has reached the highest level for more than a decade and is now well above one of a” healthy “vacancy rate of around five percent” healthy “for the markets.” For comparison: Before the Corona pandemic, the quota in the metropolises has 3.0 percent, even higher than last in 2013 with 8.0 percent.
Companies hesitate in new rental
More office space was rented in the first half of 2025. With almost 1.4 million square meters, area sales had increased by nine percent at the same period in the previous year and large degrees were evident. However, the enthusiasm of the beginning of the year has gone somewhat, said Miguel Rodriguez Thielen, Head of Office Leasing at JLL Germany. In some cases, degrees would be postponed and companies would extend contracts more often than to rent new areas.
Frankfurt with outlier, Berlin bottom
In comparison of the cities, the sales turnover increased the most in Frankfurt with plus 86 percent. However, this was due to large degrees in the financial industry, including Commerzbank and Ing. In Berlin, on the other hand, the sales turnover fell by a good 19 percent.
The office markets hit the rising interest rates and the end of the real estate boom. While the prices for apartments and houses are increasing significantly again, office properties recover slowly. With the trend towards the home office, many companies reduce areas and dismiss old buildings. At the same time, newly built offices are on the market.
The principle of “small but finer” also applies to the market: While companies pay high rents for modern areas in the best locations, old office buildings are often empty, especially in outskirts.
dpa
Source: Stern
