Munich office market dynamics, Q2 2026

Munich's office letting market recorded its strongest H1 result since 2022, with take-up of 347,500 sq.m. — 33% above the prior-year period.

Vacancy stood at approximately 1.98 million sq.m. at the end of June (vacancy rate 8.8%), above the prior-year level. At the end of Q2, 552,100 sq.m. of office space is under construction, with the highest activity in the City Centre, East and Bogenhausen.

Prime rent rose to €62.00/sq.m./month in Q2, reaching a new peak level. A further increase to €63.00/sq.m./month is anticipated by year-end 2026.

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