2022-10-25-莱坊-European_Office_Dashboard_-_Munich_Q3_2022_2页_362kb

Knights Frank Q3 2022 Market Summary

Key Market Headlines

• Take-up: Stable office take-up in Europe's occupier markets, totaling 201,100 sqm in Q3 2022, consistent with the five-year average.
• Vacancy Rate: Declined moderately to 5.0% overall in Q3 2022.
• Prime Rent: Remained steady at €510 per sqm per month, with no expected increase by year-end.

Munich Office Market Analysis

• Take-up stabilized at 600,900 sqm over the first nine months of 2022, with Q3 results aligning with the five-year average.
• Vacancy rate dropped to 5.0% overall; the Central Business District (CBD) saw a lower rate of 2%, while the City Centre vacancy rate settled at 3.2%.
• Prime rent held steady at €42.5 per sqm per month, with expectations for stability despite economic uncertainties.

Economic Indicators Overview

• Mobility in Bavaria began recovering after a decline in August, but concerns about COVID-19 restrictions could lead to lower workplace mobility.
• German unemployment rose to 5.5% in Q3 2022, driven by Ukrainian refugees and a weaker economic outlook, with further increases possible.
• Services sector employment expectations declined, and the PMI indicator showed continuous contraction in September 2022, due to inflationary pressures and uncertain economic conditions.

Research Contacts

• Dennis Beißer, Senior Consultant, dennis.beisser@knightfrank.com, +49 89 83 93 12 190
• Dieter Mendl, Research, dieter.mendl@knightfrank.com, +49 89 83 93 12 150
• Colin Fitzgerald, Head of Occupier Strategy & Solutions EMEA, colin.fitzgerald@knightfrank.com, +44 20 7861 1203