Overall German office market in healthy condition
Germany’s office markets are in healthy condition and will remain so for the foreseeable future, despite signs of an impending slowdown in the German economy.
That was the message delivered by representatives from Hamburg Commercial Bank, Becken Holding and Engel & Völkers Investment Consulting, at a roundtable discussion on the German office real estate sector held in Hamburg on 11 September.
Peter Axmann, head of real estate clients at Hamburg Commercial Bank, said that there remained positive signs for the German office market, not least because property remains an attractive alternative for investors in Europe’s continuing low-interest-rate environment.
He also pointed out that Germany’s real estate sector was in a fortunate position and able to withstand any short-term economic decline, as demand has significantly outweighed supply in German cities for years.
“This is thanks firstly to the good state of the economy and high employment, a