....UPDATE... I have just finished reading a detailed office lettings report on the German market - and it makes interesting reading! Typically, office markets are centred on the big cities - in this case Hamburg, Munich, Frankfurt, Duesseldorf and Berlin. Here is what DTZ's report says "On a 12-month comparison, Hamburg is quite clearly the shooting star, with turnover about 50% higher than in the first half of the year. In Duesseldorf and Frankfurt, turn over rose by about a quarter. Munich posted an increase of some 13%, while Berlin only just managed to exceed its prior-year result." "The good performances in Hamburg and Munich were decisively fuelled by a number of large-unit lettings in the size category upwards of 10,000 sqm. This to me points to the fact that big business (and large FDI monies) are being focused on Hamburg and Munich. This also means that these locations will become ever more attractive for a German headoffice for other firms at the expense of those cities - such as Berlin - which are not able to pull in the big deals. Cheers Neil

Neil - your comments on Hamburg tie in with my experiences. I work for one of the world largest multinationals and we have a significant and growing presence in Hamburg. Labour is cheaper than London for example and it is very good quality labour as well. It's also an excellent city in which to live in. It has a friendly and affluent atmosphere. I was very pleasantly surprised when I visited Hamburg for work.

The FT ran a good article in their property section about the Hamburg Hafencity the other week. Here is the link- http: / /cachef .ft .com /cms /s /0 /9ef9ff52 -721a -11dc -8960 -0000779fd2ac .html