Berlin

Is there any office space available free of brokerage commission? Does the type and quality of office space meet current standards? Can I secure more than 3,000 sqm of office space in a central location in Berlin? Where will new office space be built?  Should I stay in my current office or look for new premises? These are the questions that office tenants in Berlin are currently asking and to which we know the answers.

Berlin’s office market is a recognised launchpad for new businesses and industries, and there is therefore strong demand for small, flexible office space. This is evident from the increasing volume of co-working space now available on the market. Also, the public sector, associations and their service providers lease high volumes of office space every year on a long-term basis. We know what Berlin’s office tenants need. This information, combined with the current market conditions in Berlin, makes an intensive advisory service essential and is one which we have been happy to provide since 1991.

The days when real estate brokers just traded office space are long gone. Today, we have become an all-round advisor and liaison partner acting on behalf of office tenants. We ensure transparency in decision-making and endeavour to reduce to the bare minimum the expense to our clients of leasing office space. Whether a particular office space is right for your company doesn’t just depend on the location, fit-out specification and rent. We make it our business to analyse your long-term requirements for future office space so you don’t "fall short" when leasing premises, or pay too much rent.

We research the market to identify the lettings that have taken place, the rents and terms agreed, and the properties involved. The results are available to read in our quarterly office market report.

The rental situation in Berlin changed significantly in 2022. The once dominant start-ups have lost their role as take-up drivers. For many, limited expansion expectations and the increasing prevalence of home offices and mobile working have led to a change in space requirements and a significant increase in the volume of space available to sublet. For brokers, it is currently important to show a now-more-than-ever attitude and to concentrate on the inherent strengths of the city’s office market. The public sector remains a stabilising factor. The increased demand from the old economy is also a ray of hope and proof that industry diversity can be relied upon. 

Mitte once again leads the location ranking

In the location ranking, Berlin-Mitte once again took the lead with a take-up of 298,000 sqm after Q4 2022. Rents here range from €28.50 - 48.00/sqm. The top locations in Mitte include:

• Potsdamer Platz / Leipziger Platz
• Französische Strasse / Gendarmenmarkt
• Pariser Platz / Unter den Linden
• Hackescher Markt / Oranienburger Strasse
• Friedrichstrasse Railway Station

Rising vacancy

Despite the rise in vacancy over the course of the year, the vacancy rate remains above the critical level. The prime rent at the end of  2022 is €42.60/sqm. The average rent is €29.75/sqm. You can find a detailed overview of office rents in our quarterly updated Rent Map.