Office real estate yields in German cities Q1 2020, by market size

As of the first quarter of 2020, cities with office stock exceeding five million square meters, classed in the category A-location according to office real estate market size, had an average prime yield of 2.88 percent. Cities with smaller office markets (C- and D-locations) had average prime yields between 5.58 and 6.2 percent. In the same quarter, Berlin and Munich had the lowest prime yields in Germany. The prime gross initial yield is the ratio of the contractual rent to the acquisition price excluding purchaser costs.