27. Januar 2012 
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Take-up rises by nearly 18 percent: Third-best result ever registered
In 2011, take-up in the nine most important German office locations – Berlin, Cologne, Düsseldorf, Essen, Frankfurt, Hamburg, Leipzig, Munich and Stuttgart – totalled over 3.66 million square metres, thus exceeding the prior-year figure by nearly 18 percent to become the third-best result ever registered.
„In spite of the financial and currency crisis and the downward forecasts for further economic development, the rental markets lost none of their momentum in the second half of 2011 and in fact bettered the result for the first six months, to achieve a share of more than 53 percent of aggregate take-up. The situation of most business firms remains positive and amazingly stable despite the clouds gathering on the economic horizon“, emphasizes Piotr Bienkowski, Executive Chairman of BNP Paribas Real Estate Germany. „The take-up total of over 3.66 million square metres represented an increase of almost 18 percent on the prior-year figure and was more or less on a par with that in 2007. The only year with a stronger performance was 2000. Even though we had reckoned on perceptible growth in turnover, this actually exceeded the expectations we had at the beginning of the year“.
The only city to report a fall was Düsseldorf, with take-up of 362,000 square metres. This was 5.5 percent down on the prior-year total, but that had been heavily influenced by the out-of-the-ordinary Vodafone deal (90,000 m²). Essen stepped up its turnover only moderately, by 2 percent (107,000 m²). The highest take-up was once again posted by Munich, with 883,000 square metres (plus 47 %). It was followed by Berlin, with 550,000 square metres (plus 7 %), Hamburg, with 536,000 square metres (plus 6 %) and Frankfurt, with 525,000 square metres (plus 2 %). Extremely good performances in terms of the relative year-on-year increase were reported especially by Stuttgart, with 56 percent (283,000 m²), Cologne, with 35 percent (315,000 m²) and Leipzig, with 27 percent (103,000 m²).
Marked fall in supply of modern space – climb in prime rents
Compared with the previous year, vacancy fell by 5 percent to 8.7 million square metres. „What is particularly notable“, Piotr Bienkowski points out, „is that the volume of modern vacant office space was reduced by around 14 percent and now totals only about 2.57 million square metres, which is less than 30 percent of aggregate supply“.
„In spite of the financial and currency crisis and the downward forecasts for further economic development, the rental markets lost none of their momentum in the second half of 2011 and in fact bettered the result for the first six months, to achieve a share of more than 53 percent of aggregate take-up. The situation of most business firms remains positive and amazingly stable despite the clouds gathering on the economic horizon“, emphasizes Piotr Bienkowski, Executive Chairman of BNP Paribas Real Estate Germany. „The take-up total of over 3.66 million square metres represented an increase of almost 18 percent on the prior-year figure and was more or less on a par with that in 2007. The only year with a stronger performance was 2000. Even though we had reckoned on perceptible growth in turnover, this actually exceeded the expectations we had at the beginning of the year“.
The only city to report a fall was Düsseldorf, with take-up of 362,000 square metres. This was 5.5 percent down on the prior-year total, but that had been heavily influenced by the out-of-the-ordinary Vodafone deal (90,000 m²). Essen stepped up its turnover only moderately, by 2 percent (107,000 m²). The highest take-up was once again posted by Munich, with 883,000 square metres (plus 47 %). It was followed by Berlin, with 550,000 square metres (plus 7 %), Hamburg, with 536,000 square metres (plus 6 %) and Frankfurt, with 525,000 square metres (plus 2 %). Extremely good performances in terms of the relative year-on-year increase were reported especially by Stuttgart, with 56 percent (283,000 m²), Cologne, with 35 percent (315,000 m²) and Leipzig, with 27 percent (103,000 m²).
Marked fall in supply of modern space – climb in prime rents
Compared with the previous year, vacancy fell by 5 percent to 8.7 million square metres. „What is particularly notable“, Piotr Bienkowski points out, „is that the volume of modern vacant office space was reduced by around 14 percent and now totals only about 2.57 million square metres, which is less than 30 percent of aggregate supply“.
