Munich Office Rents Hit 80 Euros per Square Meter as Quality Boom Defies Broader Slump
Published on 07/03/2026 at 19:26 | Redaktion boerse-global.de
Even as Germany’s commercial property market cools, Munich’s most prestigious office addresses are commanding rents never seen before. Tenants in the city centre now pay up to 80 euros per square metre for so-called signature properties in prime locations. Rock Capital Group, which tracks the market, confirms that demand remains heavily quality-driven. By international standards the figure still looks modest—comparable space in London goes for as much as 170 euros per square metre.
One deal illustrates the selective nature of the market. In early July 2026 the Kreissparkasse MĂĽnchen-Starnberg-Ebersberg bought a building in the city centre for roughly 100 million euros. The bank plans to use it as temporary headquarters while its main office at Sendlinger-Tor-Platz undergoes renovation.
Munich’s overall investment numbers tell a more cautious story. Commercial transaction volume in the Bavarian capital fell to about 628 million euros in the first half of 2026—a drop of 32 percent compared with the same period a year earlier. That puts the city behind Düsseldorf and Hamburg, both of which posted clear gains. Yet office properties still accounted for 42 percent of all commercial transactions across Germany’s top seven markets, the strongest single asset class. Prime yields hover around 4.50 percent.
Figures for space take-up in the first quarter vary slightly depending on the consultancy. CBRE measured 155,000 square metres, up 18 percent, while JLL put the total at 164,900 square metres.
The solid demand rests on a remarkably robust local economy. In 2025 Munich recorded a record 976,230 employees subject to social security contributions—an increase of 0.6 percent. Business-tax revenue also hit an all-time high of 3.63 billion euros. The city leads Germany in start-up creation with 19.3 new ventures per 100,000 residents. Venture capital flows of roughly 2.7 billion euros in 2025, together with the presence of unicorns and two “decacorns” (Celonis and Helsing), underline its status as an innovation hub.
Beyond traditional leases, flexible office solutions such as business centres are gaining ground. Companies often choose them as an alternative to long-term contracts of five to ten years. Total cost, modern infrastructure and a high-quality working environment are the deciding factors.
Energy efficiency is becoming another key criterion. Upgraded buildings increasingly attract both buyers and tenants. In fringe locations such as Munich-Laim, modern first-occupancy offices with roof terraces and direct public-transit links command nearly 24 euros per square metre. That shows willingness to pay for new-build quality extends well beyond the city centre.
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