German office market: focus on premium space 

The listed real estate group Aroundtown, for example, is reporting an 8% increase in demand for office space in 2025. At the same time, the company is responding to changing market conditions: Where traditional office space is more difficult to let, it is increasingly turning to conversions into serviced apartments or planning new data centers(Reuters). This pragmatic approach shows how flexibly the market is adapting to changing demand profiles and how important it is to develop buildings in such a way that they can continue to be used for different purposes in the future.

The major market reports also confirm this trend. According to the latest JLL Office Report, around 1.4 million square meters of office space were let in Germany's top 7 cities in the first half of 2025 - an increase of 9% compared to the previous year. Of particular interest: prime rents rose sharply, by 12 % in Munich and 11 % in Frankfurt(JLL). This shows that there is still strong demand for high-quality space, while secondary locations and less expensive properties are coming under increasing pressure.

At the same time, construction activity remains at a high level. In Berlin alone, over one million square meters of office space is currently under construction. Even if pre-letting rates are only between 36% and 60% in some cases, this signals strong confidence in the long-term significance of the office market(Cushman & Wakefield). This means for project developers: New space must not only be of convincing quality, but must also be flexible in its use in order to survive on the market in the long term.

This clearly distinguishes the German trend from what we see in New York. While quality of experience, services and campus concepts dominate there, the focus here in Germany is more on quality, efficiency and conversion. For investors and developers, this means that success is achieved less through spectacular staging and more through clear management, economic stability and intelligent utilization concepts.

PROBIS in current office projects

DER Bogen, Munich: A prestigious office complex in Bogenhausen with a total area of around 42,000 m² of office and restaurant space above ground and additional space in three basement levels. The project is complemented by an underground parking garage with 392 car and 246 bicycle parking spaces. Developed by Giesecke + Devrient Immobilien Management GmbH, designed by Henn Architekten and realized on a plot of just under 34,000 m², a multi-tenant property with a high quality of stay and sustainable building technology is being created here. PROBIS was commissioned with the construction monitoring and prepares monthly reports on costs, deadlines, quality and project organization, which serve as the basis for the disbursement of the loan tranches.

ANNI, Munich: A large-scale office ensemble in St.-Martin-Straße with around 60,000 m² of usable space, originally built for a Siemens campus and designed by the "School of Richard Meier". The project comprises modernization, structural additions (including loft extensions), new buildings and the renovation of the outdoor facilities - with an investment volume of around EUR 130 million. Financing is being provided by a consortium led by Deutsche Pfandbriefbank AG. PROBIS was commissioned with the construction monitoring and prepares monthly reports on costs, deadlines, quality and project organization that meet the requirements of MaRisk and BCBS239. PROBIS thus ensures maximum transparency for financiers and project participants throughout the entire duration of the project.

Conclusion

While experience spaces are being created in the USA, Germany is focusing on quality, efficiency and flexible use. With projects such as DER Bogen and ANNI in Munich, PROBIS shows how modern office projects can be successfully managed - economically transparent, sustainable and with a clear focus on the future viability of working environments.

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