German office take-up hits 3-year high

The five major German office markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich ended 2011 on a three-year high in terms of take-up according to international real estate advisor Savills.

The firm's research shows that total take-up reached approximately 2.85 million m2, close to 2008 levels (approx 2.9 million m2). Compared to 2010 turnover increases are just below 7%.

Robert Kellershohn, managing director of office agency at Savills Germany: 'As expected, the record growth of Germany’s economy clearly stimulated office markets last year which seem to have reached a cyclical high.'