As a city with a favourable business climate, Hannover extends its commercial real estate market. The economic development, the emergence of new business spheres, the influence of the state education and training programmes, low unemployment rates are the crucial factors for the rising demands for office spaces in Hannover. 2018 showed a 25% increase in take-ups of offices in Hannover in comparison with the previous year, which resulted in the rise of prices for rent. The vacancy rates are around 3,8%. The costs for rent vary between the metropolis's submarkets. The highest ones are in its CBD(EUR 6,5-17 per sq.m. per month). More cost-effective venues leasing proposals can be found in Laatzen/Rethen neighbourhood and the South-Eastern part of the city (EUR5-10,5) within the Airport zone - up to EUR12 per sq.m. per month. Because of the continuous business development, it is evident that Hannover will remain one of the top hubs for office rental proposals in the future. Nowadays more than 106 thousand square meters are under construction in the metropolis centre and its submarkets. Though, the Western and Eastern areas are the leading locations concerning commercial properties yields.
