Stuttgart Bürovermietung & Investment: Marktbericht Q1-3 2025

Stuttgart's office rental market recorded slightly below-average space turnover in the first three quarters of 2025 due to lack of large contracts in Q3, though broad tenant demand persisted across all size segments and rental revenue remained near the five-year average, while the vacancy rate rose 120 basis points to 6.6% primarily due to obsolete properties in outer districts, contrasting with sustained rent growth in central City and Innenstadt submarkets for modern, high-quality, ESG-compliant office space. The investment market showed early recovery signs in Q3 2025 with transaction volumes exceeding 80 million euros, driven primarily by private investors and family offices on the buyer side, with mixed-use properties representing the dominant asset class at 66% and a top gross yield of 4.8% for office properties.