Germany’s second-tier cities closed the gap on the ‘Big Seven’ in terms of office rents in 2015, according to figures published by Corpus Sireo.
Germany’s second-tier cities closed the gap on the ‘Big Seven’ in terms of office rents in 2015, according to figures published by Corpus Sireo.
The average rent increased by 1.8% in the second half of 2015 to €8.24 per m2, while over the whole year the figure rose by 1.9%. In the major cities office rents grew by 1.2% in the second half of year and 1.8% in the year as a whole to an average level of €13.25 per m2.
The asking rate in the 14 secondary cities ranged from €6.86 in Leipzig to €9.86 in Wiesbaden. In the Ruhr city of Essen, with a population of 575,000 and 4 million m2 of rental space, rents have increased by 17% since 2008 to an average level of €8.55.
The growth rate in asking rents varied from a 1.6% decline in Mannheim to a 7.6% increase in Aachen compared to 2014/15.
