IN CONTRAST TO THE NATIONAL TREND: OFFICE TAKE-UP ABOVE AVERAGE
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Dortmund's office market stands out positively from the nationwide group of office markets in mid-2024: with take-up of 51,000 sqm, the previous year's result was exceeded by 34% and the 10-year average by almost 16%. No other top market experienced such a strong first half-year.
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Nevertheless, developments on the Dortmund office market are also affected by the persistently adverse conditions, above all the sluggish economic development. After a strong start to the year with take-up of 34,000 sqm, driven by a number of large-volume lettings concluded by the City of Dortmund, letting activity slowed again during the second quarter. Take-up of only 17,000 sqm was registered for the past three months.
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The latest figures once again underline the fact that Dortmund's office market has a broad and stable foundation. Take-up is not only above average in the important size category between 5,001 and 10,000 sqm with just under 16,000 sqm or a market share of 31% respectively, but is also strong in the segment between 501 and 2,000 sqm in a long-term comparison.
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The rent level is holding firm in 2024. The prime rent remains unchanged at €17.00 per sqm, while the traditionally more volatile average rent hose moved in only slightly q-o-q standing now at €12.50 per sqm.