The total letting performance in Frankfurt in the first quarter of 2010 came to just under 55,000 m[sup]2[/sup] of office space - the second-worst result since 2002, property adviser NAI apollo said on Monday. In the first quarter of 2004, an even lower figure - of 36,500 m[sup]2[/sup] - was recorded.
The total letting performance in Frankfurt in the first quarter of 2010 came to just under 55,000 m2 of office space - the second-worst result since 2002, property adviser NAI apollo said on Monday. In the first quarter of 2004, an even lower figure - of 36,500 m2 - was recorded.
The Q1 figure for 2010 represents a decrease of 60% year-on-year, although this high result in 2009 was due to the letting of 72,000 m2 in the SilberTowerto Deutsche Bahn.
Since 2002 average letting figures for office space in Frankfurt have totalled around 78,660 m2 in the first quarter. Despite the poor first quarter Martin Angersbach, Head of Office Letting NAI apollo Frankfurt, expects that the annual result of 2010 will be slightly below 400,000 m2 and higher therefore than the 350,000 m2 recorded in 2009.