TAKE-UP ABOVE LAST YEAR'S LEVEL AND EVEN ON PAR WITH LONG-TERM AVERAGE
-
The Dortmund office letting market recorded strong take-up of 101,000 sqm in 2024, exceeding the 100,000 sqm mark for only the fifth time in its history. Compared to the previous year, total take-up increased by almost 25%. The current result is therefore in line with the long-term average. The first (34,000 sqm) and the fourth quarter (30,000 sqm), contributed a total share of 63% to the result.
-
The disproportionately high share of larger lettings with office spaces between 5,000 and 10,000 sqm (21%) was around eight percentage points above the average and pushed the take-up to a good result. These include the two rental agreements signed by the City of Dortmund, which rented 9,700 sqm in the Westfalendamm submarket for the Youth Welfare Office and around 8,500 sqm in the city centre for the Public Order Office.
-
No major letting above 10,000 sqm were registered in the year as a whole, but the small-scale market segment was as lively as usual.
-
Due to the tense demand-supply situation, particularly in the modern and high-quality office space segment, the prime rent has risen by almost 6% to
€18.00 per sqm. It is worth noting that this is no longer only being achieved in the city centre, but also for the best office spaces in the Stadtkrone Ost submarket. The generally more volatile average rent is currently quoted at €12.60 per sqm and has fallen only slightly by €0.30 per sqm compared to the previous year.