Cushman & Wakefield's latest high-rise study on the development of high-rise usage in Frankfurt sheds light on a significant trend in the city's office segment. The investigation, which includes 59 high-rise buildings with a total of approximately two million square metres of office space, demonstrates a distinct preference for high-quality properties – a phenomenon referred to as
The analysis of tenant movements known up to 2030 shows that leases are strongly focused on contemporary buildings. Almost two-thirds of all leases recorded up to this point concern high-rise buildings completed since 2021 or due to be completed by 2030. Specifically, buildings constructed between 2021 and 2025 account for 45 per cent of the leases expected by 2030. A further 19 per cent relate to new builds to be completed from 2026 onwards. Concurrently, older high-rise buildings, particularly those from 1991 to 2010, are experiencing disproportionately high tenant departures, accounting for 61 per cent of all documented exits by 2030. This highlights companies' desire for modern, ESG-compliant, and high-quality spaces.
Tenant Loyalty and Market Segments
Another key finding of the study is the high loyalty of users to the high-rise segment. Of over 500 recorded tenant movements, many reflect intra-city relocations where companies remain within the Frankfurt high-rise market. Sectors such as banks, financial service providers, international law firms, and consulting firms show a distinct preference for this type of building. When optimising space or changing locations, these users predominantly tend towards modern high-rise spaces. Prominent examples include companies like ING DiBa, Allen & Overy, and Lincoln International, which confirm this trend.
- —Banks and financial service providers dominate the market with 47 per cent of the leased office space.
- —Law firms follow with a share of 13 per cent.
- —Consulting firms occupy 12 per cent of the space.
- —Large users include the European Central Bank, Deutsche Bundesbank, Deutsche Bank, Commerzbank, and PwC.
The appeal of new high-rise buildings is evidenced by high pre-letting rates. Numerous spaces in upcoming developments, including CENTRAL PARX, Central Business Tower, or Fifty Five Westend, have already been leased to reputable companies before their completion. This signals that high-quality high-rise spaces are among the most sought-after office products in Frankfurt, and companies are willing to secure them for the long term. Future leases will also be primarily driven by financial institutions, consulting firms, and professional service companies, including Bloomberg, ING, KPMG, Commerzbank, Lincoln International, Franklin Templeton, Nomura, and Bank of New York Mellon.
Market Outlook
Current vacancy in Frankfurt's high-rise buildings amounts to 214,770 square metres, representing 11.8 per cent of the total area. With the completion of new high-rise buildings and considering known leases and exits, the vacancy rate is expected to initially rise to 14.8 per cent in 2026 and 15.4 per cent in 2027. However, a significant improvement in the situation is anticipated with increasing absorption of the newly created spaces. For 2028, the analysis already forecasts a decline to 11.4 per cent. Frankfurt also possesses considerable development potential, with approximately 143,800 square metres of additional high-rise space by 2030 and a further potential 489,400 square metres in the period from 2031 to 2040.
