Summary and analysis of Berlin's current office real estate market conditions.
Insight
Berlin Office Market Dynamics, Q1 2025
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103,700 sq.m. of office space was leased in Berlin in the first quarter of 2025, 29% less than in the same period of 2024. This volume is 40% below the five-year average (172,200 sq.m.) and 46% less than the ten-year average (193,830 sq.m.).
The vacancy rate increased to 7.7% in the first quarter of 2025, up from 6.7% in the fourth quarter of 2024 and 5.4% a year ago. Currently, more than 1.75 million sq.m. of office space is vacant in Berlin.
Prime rent stayed at the level of the fourth quarter of 2024 - €46,00/sq.m./month, up from €44,00/sq.m./month a year ago.