The upward trend in office markets already in evidence last year continued impressively in the first quarter of 2016. At 835,000 m², take-up in the eight major office locations (Berlin, Cologne, Düsseldorf, Essen, Frankfurt, Hamburg, Leipzig and Munich) exceeded the already very good prior-year performance by close to 17 %, setting a new record for the first three months of any year and surpassing the ten-year average by a handsome 23 %. Even though a turnover increase was foreseeable, the actual development has been even more dynamic than expected. It is gratifying to note that the upturn covered all market segments and was not due simply to just a few additional large contracts. This is clear proof that the good overall economic development and labour market situation are impacting broadly to strengthen demand, with the disruptive factors around the globe so far not having any sustained adverse influence.
Source : BNP Paribas Real Estate