According to analyses by Aengevelt Research, the Magdeburg office market achieved a take-up of around 18,800 m² in 2025, representing a 54% increase compared to the previous year (2023: 12,200 m²). However, this figure is still about 18% below the ten-year average of approximately 22,900 m² per year (average 2015-2024). The positive development in 2025 is primarily attributable to the first four months, during which around 9,500 m² were transacted. In the comparable period of the previous year (January to April 2024), this figure was around 6,000 m².
Three large deals, each over 1,000 m² and totalling over 6,000 m², contributed significantly to this result in 2025. For 2026, Aengevelt Research forecasts stable office space take-up of approximately 18,000 m². The first half of 2026 is projected to be more moderate with an anticipated take-up of around 8,000 m² compared to the first half of 2025 (around 10,000 m²). Ms Annett Lorenz-Kürbis, Branch Manager at Aengevelt Magdeburg, noted that market activity – apart from individual large transactions – was primarily characterised by small-scale demand.
The short-term available supply reserve in Magdeburg, ready for occupation within three months, decreased to currently around 52,000 m². This is against a total stock of approximately 1.08 million m² of office space and a vacancy rate of about 4.8% (beginning of 2025: 5.1%). For the end of 2026, Aengevelt Research predicts a slight increase in the supply reserve to about 55,000 m² for the first time. Reasons for this include optimisations and reductions of space by existing tenants due to new office concepts. This is expected to increase the vacancy rate in existing properties, while new build projects in central locations continue to depend on corresponding pre-letting rates.
Completions showed significant dynamism. After high volumes in 2020 (12,500 m²) and 2021 (21,000 m²), these fell in 2022 (5,500 m²), 2023 (2,000 m²), and 2024 (1,000 m²). In 2025, the completion volume rose significantly to around 24,000 m², with the new administrative building of AOK Sachsen-Anhalt accounting for a large part with approximately 15,000 m² of gross floor area. The completion volume in 2025 significantly exceeds the decade average (average 2015-2024: 6,400 m² per year). For 2026, a significantly reduced completion volume of about 1,000 m² is again expected.
The rental price level in Magdeburg showed an upward trend over the last year. The weighted prime rent has risen to its current 15.20 EUR/m² (beginning of 2025: 14.80 EUR/m²). The average rent in city centre locations also increased from 11.70 EUR/m² to around 12.60 EUR/m². Due to demand primarily focused on modern office space in central locations and the limited availability of suitable existing space, Aengevelt forecasts a further slight increase in prime rent to around 16.00 EUR/m² for 2026. Ms Lorenz-Kürbis commented that rental levels of up to 19.00 EUR/m² would only be achievable in future new build projects in the city centre.
