Jena Office Market: Space Transactions Decline, Vacancy Rate Rises Slightly

(Jena, Oct. 1, 2026) Lower take-up, slightly higher vacancy rates, and higher demands on office space: The Jena office market continued to evolve in 2025. This is shown in the new office market report from JenaWirtschaft. Lease volume declined once again, while the vacancy rate rose from 2.4 to 2.9 percent. Modern, easily accessible, and flexible office spaces remained particularly in demand.

Fewer Leases, More Available Space

The office space inventory grew by approximately 2,400 square meters to 753,630 square meters in 2025. At the same time, vacant space increased by approximately 3,700 square meters to 21,980 square meters. However, the additional vacancy is concentrated in individual properties. With a vacancy rate of 2.9 percent, the overall vacancy rate remains at a low level.

The volume of space leased fell to approximately 8,320 square meters, a decrease of about 710 square meters compared to the previous year. In particular, the number of lease agreements declined. About 85 percent of the recorded transactions involved 500 square meters or less. Market activity was concentrated primarily in northern Jena, the city center, and the areas surrounding the universities.

“Market momentum continued to slow last year. Companies are making fewer decisions regarding office space and are scrutinizing their actual needs more closely. At the same time, we do not see a uniformly weak market: modern and well-located offices continue to be in demand, while other spaces are more difficult to lease,” says Patrick Werner, project manager at JenaWirtschaft.

Flexible offices remain in demand—rents are rising

Companies are paying closer attention to location, quality, energy efficiency, and flexible usage options. This presents opportunities for owners to modernize existing buildings, flexibly subdivide larger units, and adapt offices to specific uses.

Despite the lower volume of space leased, recorded rents rose. The average rent increased from 11.30 to 11.60 euros per square meter, while the area-weighted average rent rose from 12.10 to 12.80 euros. The investment volume reached 9.2 million euros, significantly exceeding the exceptionally low figure from the previous year.

Plenty of New Construction, but Hardly Any Additional Leasable Space

In 2025, approximately 5,060 square meters of new office space was completed—about 1,000 square meters more than in the previous year. Seventy-seven percent of this is intended for the owners’ own use and therefore will not enter the commercial rental market.

An additional approximately 63,360 square meters is currently under construction. This office space, too, is being developed almost entirely for owner-occupancy. “The high level of construction activity primarily strengthens existing companies and institutions. However, it does little to expand the open rental market,” explains Patrick Werner.

At the same time, the project pipeline—that is, projects already planned but not yet started—fell to 28,250 square meters, its lowest level since 2017. Project developers are increasingly aligning new projects with specific needs and are less likely to develop without confirmed tenants.

Demand Is Changing—Quality Is Gaining Importance

The office market report reveals a market in transition: Companies are leasing less office space overall and are evaluating their needs more carefully. Economic uncertainty, cost pressures, and changing work models are influencing these decisions. At the same time, demands for quality, location, and flexible use are increasing.

As a result, two trends are converging in Jena: Overall demand is lower than in previous years and is increasingly focused on suitable spaces. At the same time, the supply of modern, readily available office space remains limited. Opportunities lie primarily in adapting existing properties to meet these changing requirements and in developing new spaces specifically tailored to concrete needs. “The market no longer needs more space at any cost, but rather suitable, modern, and well-located properties,” says Patrick Werner.

JenaWirtschaft will present the new office market report from October 5–7 at EXPO REAL 2026 in Munich. There, the city will also showcase current development projects at the joint booth of the European Metropolitan Region of Central Germany.

The full office market report is available at jenawirtschaft.de/bueromarkt.

Jena Office Market 2025 at a Glance:

Press contact for inquiries:

Marina Flämig, Tel. 03641 8730033, Email: marina.flaemig@jena.de