GOOD START: TAKE-UP ABOVE LONG TERM AVERAGE
The Cologne office market got off to a very good start in 2022, achieving a total take-up of 68,000 m² in the first quarter. Although the remarkably good result of the previous year, which was characterized by several major deals, was missed by a clear 19%, the third-best result of the last ten years was registered and the long-term average was exceeded by almost 8%. Thereby the cathedral city is continuing the fundamental upward trend of recent years. One of the reasons for this is the broadly based demand, which is reflected in high take-ups in almost all market segments. In addition, the dynamics of market demonstrate that the effects of the Corona pandemic have largely been overcome and market participants have regained a noticeable degree of trust. The most important deals included a lease by CBS Cologne Business School for 16,000 m² in Rodenkirchen and a lease by Verkehrsverbund Rhein Sieg for 4,300 m² in Kalk/Mülheim.