Demand for office space in Germany’s top seven cities will drop by 12 percent by 2030, according to a new study from Colliers and the ifo Institute.

After surveying some 9,000 companies in Germany and using office letting data from between 2013 and 2023, the advisory firm and economic think tank have suggested that the reduction in office demand could amount to 11.5 million square metres (124 million square feet) of spare space.

In a study based on their joint research called New work models. New work locations: The impact of working from home on the office real estate market, Colliers and the ifo Institute estimate that 60 percent of all office properties in Germany will be affected by the hybrid working trend and that companies leasing space in these properties will reduce their requirements by an average of 20 percent.

Andreas Trumpp, head of market intelligence and foresight at Colliers Germany, says that although the possible 12 percent