Summary and analysis of Munich's current office real estate market conditions.
Insight
Munich Office Market Dynamics, Q3 2025
- Office take-up in Munich reached 154,800 sq.m. in Q3 2025, bringing the year-to-date total to 415,700 sq.m., 9% lower than the prior year. Manufacturing represented 30% of total take-up over the first nine months.
- Vacancy increased to 8.0% or 1,789,100 sq.m. Completions reached 179,600 sq.m. so far this year, while 728.700 sq.m. were still under construction at quarter-end.
- Prime rents reached €60.00/sq.m./month in Q3, with the 60-euro mark achieved for the first time in the Big 7 markets. A further increase is expected.