The German office property markets (Berlin, Düsseldorf, Frankfurt, Hamburg and Munich) remain weak, but the cyclical downturn is showing signs of deceleration, Savills said in a new research report issued during the second day of the EXPO REAL fair in Munich. Take-up in the first nine months of the year was almost a third (- 32%) below the previous year’s figure, the exception being Berlin where vacancies increased across the board. On average almost 10% of office space in the city is unoccupied.
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