NOTICEABLE DECLINE IN TAKE-UP
The continuing difficult macroeconomic conditions on the German markets are also reflected in Dortmund. After two extremely dynamic years, the Dortmund office market is currently achieving below-average results. A total take-up of 51,000 m² has been realized so far this year, which is significantly less than in the previous year (-49.5%). The long-term average was also missed by around 23%. This development is primarily due to the fact that no contract for more than 10,000 m² has yet been concluded. By contrast, a very high proportion of 39% is accounted for by lettings between 5,000 and 10,000 m². Noteworthy in this context are the rentals by the insurance company BIG for 7,400 m² in the Phoenix-See submarket, as well as by the City of Dortmund for 6,900 m² in the City and by the tax office for 5,300 m² in Westfalendamm.