2023-01-19-莱坊-Munich_Office_Spotlight_Q4_2022_4页_379kb

Summary of Munich Office Market Q4 2022:

• Office market saw no year-end rally.
• Total absorption in 2022 reached 751,300 sqm, a 12% increase from the previous year (668,900 sqm).
• Prime rent reached a record high of €43.50/sqm/month in the fourth quarter.
• Fourth quarter take-up was 150,400 sqm, with vacancy rate rising moderately to 5.3%.
• For the year, take-up represented the highest level in four years, exceeding 2021 results.
• Office completions and construction are tracked, with future developments targeting additional space by 2024.
• Submarket analysis shows varied rental ranges: Central locations have high rents (up to €43.50/sqm/month), while peripheral areas have lower rates (down to €9.50/sqm/month).
• Outlook for 2023: Demand is expected to remain strong, prime rents may increase slightly, and vacancy rates should stay unchanged.