Sustainability and demand: office space in the upswing despite the crisis!

Sustainability and demand: office space in the upswing despite the crisis!

In the current events on the German market for commercial properties, contradictory trends are emerging. While the demand for office space, especially in larger cities, is increasing, the situation in the best layers is rather tense. Sascha Haimovici, managing partner at Immocontract, reported that many companies are increasingly looking for generous office space, since the world of work increasingly focuses on the presence of the employees. This leads to an increased demand for modern, easily accessible offices, which must also meet sustainability criteria, as Haimovici explained. This development is primarily due to the fact that the team spirit and the exchange among employees are becoming more important for companies.

contradictory developments in metropolises

In contrast, the demand in the top locations such as Berlin, Frankfurt and Munich is influenced by other factors. According to an evaluation of ImmobilienScout24 for Capital, the demand for commercial properties has decreased by impressive 25 percent in these key locations. The reasons for this are varied: increased interest rates, an increase in e-commerce and the widespread use of home office have made the situation for commercial properties critical. Despite these challenges, the prices for certain office space in these metropolises increased by 2.7 percent compared to the previous year, while rents in the country even increased by 3.5 percent, which indicates differentiation in the market.

In addition, it can be seen that during the empty sales areas in metropolises, especially in retail, demand in rural areas is growing. 24 percent more trading areas are available in large cities, which is partly due to the changed shopping behavior of people. The gastronomy, on the other hand, benefits from increasing demand in all locations, while in particular in large cities the demand even decreased. This area of tension between the amount and location of real estate prices illustrates the dynamic development of the market, which is also characterized by innovative concepts. However, experts do not see an acute crisis, but rather a return to normal in the real estate industry, as [Capital] reported.

Regardless of these developments, the market for commercial properties in Germany remains under constant observation. Some experts emphasize that the market is adaptable and is less threatened with bladder formation. Instead, one could speak of a change that offers both challenges and opportunities, as also noted by [oe24.at].