Take-up of office real estate in Berlin, Germany 2013-2023
The total take-up of office real estate in Berlin, Germany, declined to a 10-year low in 2023. In that year, the volume of office space sold or leased reached 541,000 square meters. The decrease can be explained by the effects of the coronavirus pandemic on office demand, the weakening economy, rising interest rates, and the effect of Russia's war on Ukraine. Across Europe, Germany's big four (Berlin, Munich, Frankfurt and Hamburg), were among the markets with the largest office take-up.