The office-letting market in Germany has performed strongly in the first quarter of 2018, according to figures from German Property Partners. In a report published on Tuesday, it said that demand for office space was up by more than 20 percent compared with last year. Frankfurt had the highest growth, with a 23% increase year on year, but a shortage of available space meant Munich, Hamburg and Düsseldorf recorded falls in take-up, which accounted for the decline in the headline figure. Experts believe the figures point to further growth this year.
The office-letting market in Germany has performed strongly in the first quarter of 2018, according to figures from German Property Partners. Although overall take-up of new space was 8% lower than in Q1 2017, demand remained high, with Frankfurt, Stuttgart, Berlin and Cologne all improving on the previous year's Q1 results. Frankfurt had the highest growth, with a 23% increase year on year, but a shortage of available space meant Munich, Hamburg and Düsseldorf recorded falls in take-up, which accounted for the decline in the headline figure. Experts believe the figures point to further growth this year.