The office letting market in Nuremberg showed positive development in the first half of 2026. Area take-up reached 65,500 m², which represents an increase of nine percent compared to the same period last year. This result was significantly driven by a very strong first quarter, in which an area take-up of 51,900 m² was achieved. In contrast, the second quarter saw a decline in market dynamics, with a transaction volume of 13,600 m².
At the same time, the number of registered deals in the first half of the year decreased from 112 in the previous year to 99. The average size of rental agreements increased by 23 percent to 663 m² over the same period. A spokesperson for JLL Nuremberg noted that the positive development in the first half of the year demonstrates the ongoing demand for office space in Nuremberg, particularly for modern and centrally located properties. The decline in dynamics in the second quarter is interpreted as an indicator of a shortage of supply in sought-after locations.
The easing of supply shortages is proving to be limited. By the end of the second quarter, 56,700 m² of new office space had been completed, which is a threefold increase compared to 16,700 m² in the same period last year. However, a significant portion of these completions, including projects in Lichtenreuth in the southern submarket and a property on the Evangelical Campus, are intended for owner-occupiers. Currently, an additional 65,400 m² of office space is under construction in Nuremberg. The majority of this, 29,200 m², is concentrated in the inner city belt submarket. In the northern submarket, it is just under 29,100 m².
These extensive completions also temporarily affect the vacancy rate. Year-on-year, this increased from 8.0 percent to 9.4 percent. However, the JLL Nuremberg spokesperson predicts that this increase will be a temporary phenomenon, as a successive absorption of modern spaces by the market is expected.
The prime rent remained stable at EUR 19.50 per square metre, at the same level as the previous year. The weighted average rent saw a slight decrease from EUR 12.69 last year to EUR 12.47 now. For the full year 2026, an area take-up of 100,000 m² and a prime rent of EUR 20.00 per square metre are expected.
