German
Market Review
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interest in secondary cities which are attractive real estate
locations.
Darmstadt
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activity that was dominated by development transactions in
the last year.
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14,000 sqm, of which about 50.0% is already leased out to
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have remained unchanged at around €13.00 per sqm while
B-class refurbishments are letting at about €8.00 per sqm.
Bonn
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for the whole of 2014. Only a small number of larger
investment transactions were made in Bonn, including the
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of approximately 6.0%.
Münster
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an average headline rent of €13.50 per sqm while new
buildings outside the city centre are letting at an average of
€11.50 sqm per month. Older properties and those located
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average of €9.00 per sqm.
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With demand currently ahead of supply, vacancy rates
dropped in all top cities in the year with 2015 third quarter’s
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0.7%. Steep falls were recorded in some cities. Stuttgart
continued to have the lowest vacancy rate at 3.6%, just
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of 5.6% and 6.2% respectively while the rate for Düsseldorf
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digit vacancy rate of 11.6%.
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immediate occupancy in these cities in 2015 and occupancy
rates stabilised at around 80.0%. With comparatively little
new build space scheduled to be added to supply in the
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under construction as at September 2015 (a decrease of
0.7% year on year), vacancy rates are forecast to continue
to drop.
1
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has been in continuous decline since 2010.
DEVELOPMENT PIPELINE
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construction / Pipeline
2008
200,000
0
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
2009 2010 2011
2012 2013 2014 2015 2016 2017
sq m
769,000
1,273,600
1,295,300
914,100
689,600
858,700
1,003,600
886,800
931,200
1,101,800
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