Stuttgart Office Market Dynamics, Q1 2026

Stuttgart's office letting market recorded a subdued start to the year in the first quarter of 2026. Take-up is slightly below the prior-year level and below longer-term average values. Market activity continued to be characterized by smaller transactions, while individual larger leases provided support to overall take-up.

Vacancy at quarter-end is slightly above the prior-year level and remains at a moderate level. The vacancy rate stands at 5.7%. Completion activity has been very limited over the course of the year to date, meaning only a very limited volume of new office space has been added to the market thus far.

Prime rent remained stable in the first quarter, confirming the current rental level in established locations. Overall, the rental price environment remained characterized by differentiated demand based on location and quality.