ABOVE-AVERAGE RESULT FOR SECOND YEAR IN A ROW
Over the past 12 months, the Cologne office market has once again demonstrated that it does not need a prolonged recovery phase after the Covid crisis. The Domstadt was able to continue the dynamic market development of the previous year in 2022: With a total take-up of 336,000 m², the very good result from 2021 was equalled and the long-term average was exceeded by 11%. The decisive factors for the high volume were primarily the take-up record in the middle of the year (69% of the total result) and the above-average volume of lettings over 5,000 m² (37%). While the three major contracts of the BImA (44,800 m²), the Gebäudewirtschaft der Stadt Köln (38,800 m²) and the Cologne Business School (16,000 m²) all took place in the first half of the year, letting activity in the second half of the year was more restrained, not least due to the economic and geopolitical uncertainties. In terms of the spatial distribution of take-up, submarkets in the city centre (85,500 m²), Kalk/Mülheim (37,600 m²) and Ossendorf/Nippes (78,700 m²) stand out, as well as those on the centre fringe and in subcentres, which speaks for the attractiveness of the entire Cologne market area.