Take-up of office space in Europe 2022-2023, by city
Demand for offices in almost all the 12 major markets in Europe ranked declined between the first half of 2022 and the first half of 2023. Brussels and Madrid were the only two cities where office take-up, the amount of office floor space sold, let, pre-let, or pre-sold, increased. In Germany's big four cities, Berlin, Munich, Frankfurt, and Hamburg, the volume of office real estate transacted totaled 912,000 square meters in the first half of 2023. That was a decline of 387 square meters from the equivalent period in 2022.
