Savills: 10% annual growth in prime office rents in Berlin in 3Q15

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In its latest (3Q15) Market Report on the European office sector, Savills noted that prime rents and secondary rents in Berlin were, respectively, EUR288 and EUR210 per square metre per year. Year-on-year growth in prime rentals has risen from 2% to 10% since 1Q15. Looking forward, Savills anticipates that take-up of office space will remain unchanged. Supply of new space is expected to fall. Prime rents are expected to remain rise. In its report, Savills highlighted how the vacancy rate for prime space has fallen by 100 basis points to 3.6% over the last year or so – thanks to good take up from the Information & Communications and Services sectors.

Source : Savills/December 2015/Berlin/OFF