According to analyses by Cushman & Wakefield, the Berlin office letting market achieved take-up of 380,400 sq m in the first half of 2026. This figure represents an increase of approximately 52 per cent compared to the first half of 2025, when 250,000 sq m were let. Within the context of Germany's top office markets, Berlin thus positions itself at the forefront, surpassing Munich, which recorded take-up of approximately 329,000 sq m in the same period.
The second quarter of 2026 showed particular dynamism. With take-up of 229,000 sq m, the previous all-time record from 2017, which stood at 220,000 sq m, was surpassed. The information and communications sector contributed significantly to this result with a share of 27 per cent, marking the highest share for this sector since the 2010s. A key factor here was the deal by JetBrains for 19,000 sq m in the Hainwerk project. In addition, four further deals from the same sector in the size range between 5,000 sq m and 10,000 sq m were concluded.
The development of prime rent in the Berlin office market is showing an upward trend again after a period of stagnation. At the end of June 2026, the prime rent was EUR 47.00/sq m per month. This corresponds to an increase of 4 per cent compared to the previous quarter and a rise of 4 per cent compared to the previous year's figure. A further increase to approximately EUR 50.00/sq m per month by the end of 2026 is considered possible.
Dominic Rausch, Head of Office Agency Berlin and Regional Manager East at Cushman & Wakefield, commented on the current market situation. He noted a continued robust demand for high-quality office space in the Berlin market. The strong result in the first half of the year is evidence of this dynamism, but it is also due to the fact that processes for larger deals have extended over a longer period and have now been concluded in a bundled manner. A better result than in the previous year is therefore forecast for the whole of 2026. For 2027, Dominic Rausch anticipates a potentially more challenging market environment, as some of the current momentum has already been realised this year, and user-side demand is expected to be less broadly supported in the following year.
In the first half of 2026, the completion volume of office space in Berlin amounted to just 55,800 sq m. This figure represents the lowest level in the past ten years. Dominic Rausch stated that speculative construction starts have become the exception. He predicted that completion figures, after a temporary peak in 2027 with volumes exceeding 400,000 sq m, will settle at a lower level for an extended period from 2028 onwards.
