The office market in Stuttgart showed a subdued development in the first half of 2026. Take-up reached only 68,300 square metres, which represents a significant reduction compared to the same period last year. The performance of the first half could therefore not match the results of the previous year.
The lower volume is primarily attributable to the absence of large contract closures. Transactions with exceptionally high space requirements, which significantly contributed to total take-up in past periods, were missing this time. This leads to a shift in the structure of market activity.
Take-up Development and Market Structure
The current development in the Stuttgart office market reflects a general restraint among tenants. This is evident not only in the number of deals but also in their volumes. Demand is increasingly concentrating on smaller to medium-sized units, while the previously dominant large deals are absent. The sum of smaller and medium-sized leases could not compensate for the deficit of the missing large deals.
For the second half of 2026, a detailed observation of market dynamics is necessary. An increase in transactions, particularly in the large-space segment, would signal a recovery. A continuation of the current trend would result in a stabilisation of office space take-up at the current level. The reasons for the subdued demand are diverse and include macroeconomic factors as well as company-specific decisions regarding office space strategy.
The situation in the Stuttgart office market requires a precise analysis to estimate future developments. It remains to be seen whether outstanding large deals will materialise later in the year, which could significantly influence the cumulative take-up. Without these drivers, the annual result is likely to be below the level of previous years.
