• Large-volume pre-lettings were the main driver for the solid take-up volume; 33% of total take-up in Q1 fell into this category.
  • Vacancy rate again fell significantly to a new low. Shortage of supply especially in CBD (City, Hafen, HafenCity), where the vacancy rate was 2.2% at the end of march.
  • Rental price growth accelerates significantly. Prime rents are achieved in project developments in the City and HafenCity. A further increase is expected in the coming quarters.
  • As a result of the pre-lettings, the weighted average rent increased by 11% compared to the previous year, coupled with an upward trend in asking rents and decreasing incentive packages.