Germany - Hessen

Frankurt city News Q3/2009

Turnover starting to stabilize

Take-up of office space in the Frankfurt market area so far this year totals 340,000 m2. This represents a fall of just under 24 %, which by nationwide standards must be seen as a good result. Demand is stabilizing at the level already achieved and is fact livelier than the figures show: many firms are extending their present leases ahead of time, but this does not count towards the turnover total. It is gratifying to note that – despite frequent pessimistic forecasts – the key Frankfurt business sector, banks and financial services, was the strongest source of demand, accounting for more than one quarter of all take-up. In the narrower market area, as defined jointly by the major players, space turnover was about 297,000 m2, equivalent to a decline of around 25 %.

Author(s): several

Source: BNP Paribas Real Estate

Published: 30.09.2009