STRONG START TO YEAR WITH RECORD LEVEL OF TAKE-UP
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At 43,000 sqm, take-up in Dortmund was around 27% higher than in the same quarter of the previous year. Despite the persistently difficult economic conditions, the strong demand has given the office market its best start to a year in its history. Not only the previous year's result was exceeded, but also the long-term average by an impressive 79%. The core city in particular recorded high market activity with over 33,000 sqm of take-up.
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The current result is largely due to the brisk rental activity of the public sector, which is responsible for around 68% of take-up. A good 21,000 sqm of this is attributable to the City of Dortmund. This includes the largest contract to date, the letting of around 15,000 sqm in the core city submarket.
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Also noteworthy is the significantly above-average share of almost 86% of contracts signed for rental space of more than 5,000 sqm. Typically, only around a third of take-up is accounted for these large-volume space categories. While letting activity in the segment of less than 500 sqm remained at the previous year's level, momentum in the mid-sized segment was disappointing.
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Rental prices have continued to rise due to the high demand for premium space and the simultaneous decline in supply in this segment. At the end of March 2025, the prime rent stood at €20.00 per sqm, which corresponds to an increase of almost 18% compared to the previous year.