Munich Office Market Q3 2026

The Munich office leasing market maintained its solid performance in the third quarter of 2026, although momentum eased somewhat compared with the strong first half of the year. After nine months, take-up totalled 467,600 sq m, significantly exceeding the prior-year result. Market activity remained predominantly focused on smaller units, but received additional impetus from a higher number of large-scale transactions. Innovation-driven sectors such as new energy, artificial intelligence, defence and robotics shaped demand alongside traditionally established industries.

Occupiers continue to scrutinise location, fit-out quality and total occupancy costs closely. High-quality, flexible and well-connected space is driving demand, while non-market-compliant supply in decentralised locations is attracting little interest.