The German office market in the five major business cities performed far better than expected in the fourth quarter of 2006 despite forecasts in the first nine months of a decline in take-up for the full calendar year.
The German office market in the five major business cities performed far better than expected in the fourth quarter of 2006 despite forecasts in the first nine months of a decline in take-up for the full calendar year.
German newspaper Immobilien Zeitung said that property advisor Jones Lang LaSalle had recorded a 16% increase in take-up overall, thanks to big transactions in the major business centres around the country. Vacancy rates in the big five cities (Berlin, Munich, Frankfurt, Hamburg and Dusseldorf) fell to an average of 5%.
