Germany’s office market has had an exceptional year with city centre office rents exceeding the €46 (DM90) level.
In some areas, such as the Pollox Tower, the price has even exceeded €51m (DM100). One expert said that the shortage of office space and the lack of projects under way show that the market is becoming dominated by owners rather than tenants.
The take-up rate last year was 923,000m2, three times that of 1995 and 30% more than in 1998. Experts believe the market will remain buoyant at least until 2002 or early 2003.
2004 is forecast to be a bad year with 2005 seeing a return to normality.
Les Echos, 01 February 2001 p62
