Summary and analysis of Hanover's current office real estate market conditions.
Insight
Hannover Office Market Dynamics, Q4 2024
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During 2024, the Hanover office leasing market recorded a take-up of 139,200 sq.m., showing an increase of 65% compared to the same period of the previous year.
The vacancy rate has increased by 60 basis points to 5.4% compared to the fourth quarter of 2023. Currently, around 290,000 sq.m. of office space is available on the market in the short term.
The prime rent has increased by 50 cents compared to the previous year to currently €21.50/sq.m/month.