Berlin: Surface area turnover dropped slightly—peak rents risen
According to the current office market report issued by Angermann Global Property Alliance, there has been a turnover of 420,000 sqm of office space in Berlin this year up to now—a decrease of about 10% compared to the previous year. Angermann is estimating a surface area turnover of 550,000 sqm by the year’s end (previous year: 610,000 m²). Office space of up to 3,000 sqm in the areas of Kurfürstendamm, Friedrichstrasse and Potsdamer/Leipziger Platz are in particular demand, the report states. At the end of the third quarter, the vacancy rate was 8.6% (previous year: 9%), with surface inventory remaining unchanged at 18.3mn sqm.