Summary and analysis of Munich's current office real estate market conditions.
Insight
Munich Office Market Dynamics, Q1 2025
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The Munich office letting market started the new year with a take-up of 141,500 sq.m., corresponding to a small decrease of 3% compared to the same quarter of the previous year. Compared to the 10-year average for first quarters, there is a decrease of 22%.
The office space vacancy in Munich continued to rise at the beginning of the year, with the vacancy rate currently at 7.1%, which is 1.5 percentage points above the value of the same quarter last year. In total, around 1.58 million sq.m. of office space is available in Munich in the short term.
The prime rent continued to increase at the start of the year and stands at €56.00/sq.m./month in Munich at the end of the first quarter. Within a year, the prime rent has thus increased by about 8%.