According to Savills latest research, the top six German office markets* saw take-up volumes of 1.9 million sq m in the first three quarters of 2025. This figure is 7.5% above last year’s level but remains 14.4% below the 10-year average. Prime rents in the top six cities rose by an average of 1.7% in the third quarter of 2025 compared with the previous quarter and by 5% year on year. The median rent remained unchanged from the first quarter of 2025 but has risen by 5% year on year. The average rent fell marginally by 0.1% compared with the previous quarter. 

Jan-Niklas Rotberg, Managing Director and Head of Office Agency Germany at Savills, says: “The third quarter was, on the whole, subdued. In light of current economic and geopolitical conditions, companies are acting cautiously, which is noticeably delaying relocation decisions. There have been some large lettings so far this year, such as  Commerzbank and KPMG. However, these are exceptions and do not reflect the overall picture; many companies are extending their existing leases.”

Savills expects increased activity in the fourth quarter, with take-up likely to exceed last year’s total and near the long-term average. Rotberg says: “The market remains competitive for owners, but they are being impacted by market conditions to varying degrees. While centrally located, modern space remains in demand, peripheral or lower-quality properties is coming under pressure.”

Antonia Wecke, Senior Research Consultant at Savills Germany, says: “The average vacancy rate across the top six cities rose to 7.8% in the third quarter of 2025, approaching the 8% mark. This trend is likely to continue over the coming months.” 

Rotberg adds: “Owners are increasingly willing to negotiate, particularly regarding lease lengths, and are now more inclined to deal with interim lettings with short lease terms of two to three years. Management agreements with co-working providers are also becoming more popular as a means of avoiding vacancies.”

* Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne and Munich

Find out more on our Dashboard Top 6 Office Markets Germany