Overcapacities have been reduced
However, these overcapacities have been reduced since 2010. This has only resulted in parts
from tenant demand because take-up has been subdued between 2012 and
2015. Rather, it is more likely to be the result of a positive trend in special
effects related to conversion – i.e. Change of use from office to residential or
hotel – and to comparatively weak construction activity following the financial
crisis.
At present, Frankfurt’s vacancy rate of more than 11% (almost 20% in
2005) is still the highest of the German Top 7 office markets; simultaneously,
however, it is at its lowest level since 2002, and the trend is on the decline. At
40%, the share of high-quality space in the total number of vacant properties is
comparatively high
EU Forecast
euf:ba18.c:94/nws-01