Hanover office market

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With around 540,000 inhabitants, Hanover is the largest city in Lower Saxony and its state capital. More than 1.2 million people live in the Hanover region. Hanover is an important trade fair location and a traffic junction for north-south and east-west connections, both for car traffic and for rail traffic. In addition, Hannover-Langenhagen Airport offers numerous flight
connections all over the world.

NIn addition to the Dax group Continental, the insurance companies Talanx and Hannover Rück, which are listed in the MDax, have their headquarters in Hanover. Hanover is also known and loved as a science location. Leibniz Universität Hannover and eight other universities currently have over 40,000 enrolled students.


There is currently over 5 million square meters of office space in Hanover, 97% of which is occupied. The letting rate is over 180,000 square meters per year, although there is now a significant shortage of available and easily usable office space. Requests for large office space are hardly matched by suitable offers. Smaller office units are also being offered less and less, so that currently only 3% of all office space in Hanover is available for interested parties.


The unprecedented high demand for attractive and modern office space has led to significant
price increases in recent years. In the inner city area, prices of over 18 euros per square meter are now being achieved. A few years ago that was completely unthinkable. Even in peripheral locations, the prices for well-designed office space have now risen to 13 euros per square meter.


Because the large project developments and construction measures are usually either intended for
personal use or are already out of stock, the situation on the Hanover office market will not change in the short to medium term. On the contrary, since hardly any new, larger office space can be built, there will be no new space available to the market in the foreseeable future either. It is therefore more likely that the race for modern and effective office space in attractive locations will continue to increase.