2021-10-07-莱坊-Munich_Office_Spotlight_Q3_2021_4页_371kb

Munich office market Q3 2021 summary: Out of the total office space in Munich, a notable increase in activity was observed with 443,900 square meters leased in the third quarter, bringing the cumulative take-up up to 443,900 square meters from the start of the year. Prime rent saw a rise from €39.50 to €40.00 per square meter per month, indicating rising demand and value. However, vacancy rates climbed moderately to 4.8%, primarily due to completions of new constructions totaling 155,000 square meters already built, with additional under construction expected by end of 2024.

The market outlook for the final quarter projects continued growth: take-up volumes likely to surpass the previous year's results, supporting a further increase in average rents, while vacancy rates are expected to stabilize around current levels. Submarket analysis reveals variations, such as CBD areas with higher rentals (€23,50-40,00), while peripheral regions show lower vacancy but different pricing and development stages.

This summary is based on Knight Frank's 2020 research report, which provides general market insights without specific liability; reproduction requires prior approval from Knight Frank LLP. The report highlights ongoing market dynamics in Munich, with demand driving key metrics higher.