2022-07-29-莱坊-European_Office_Dashboard_-_Munich_Q2_2022_2页_312kb

Summary of Knight Frank Q2 2022 Occupier Market Report (Munich)

Report Overview

This quarterly report from Knight Frank Research provides an update on occupier market activities in Europe, with a focus on Munich. It includes headline figures and economic indicators to assess market stability and trends.

Market Headlines

• Take-up: Q2 2022 saw office take-up of 208,400 sqm in Munich, exceeding the 5-year average and contributing to a total of 399,800 sqm for H1 2022.
• Vacancy Rate: The vacancy rate increased moderately to 5.1%, indicating over one million sqm absolute vacancy.
• Prime Rent: Prime rent reached a record high at €42.5 per sqm per month, sustained by market stability and high demand for central office locations.

Economic Indicators

• The report incorporates mobility data, unemployment rates, and服务业PMI to highlight economic factors impacting occupier markets, noting stable worker return to offices and potential peak hiring activity despite economic uncertainties.

Key Notes

• Economic indicators, such as Google Mobility and German Unemployment Rate, support the market analysis, showing resilience in employment and service sectors.
• The Munich office market is expected to remain stable, with prime rents leveling at current high levels and vacancy rates stabilizing around 5%.