BNP Paribas Real Estate publishes Q3 2022 German office market and investment results

German office markets managed to stay their course in the third quarter despite many challenges, and leasing activity was even up in the summer months in many locations, according to BNP Paribas Real Estate.

The eight cities of Berlin, Düsseldorf, Essen, Frankfurt, Hamburg, Cologne, Leipzig and Munich posted 2.7 million square meters (29.1 million square feet) in take-up at the end of September. This reflects a year-over-year increase of more than 21 percent and is 3 percent more than the 10-year average. These figures are based on the latest analysis by BNP Paribas Real Estate. Overview of key results:

Take-up posted a 21 percent year-over-year increase to 2.7 million square meters (29.1 million square feet) in the first three quarters of the year Vacancy remained stable at 5.1 million square meters (549 million square feet) Essen, Düsseldorf and Frankfurt were only cities to post vacancy rates of more than 5 percent Prime rates were