SUBDUED START TO THE YEAR
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The Dusseldorf office market got off to a subdued start in 2025. After the first three months, take-up of 39,000 sqm was registered. This is 39% below the previous year's quarterly result and around 53% below the ten-year average (83,000 sqm).
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One reason for the low take-up is the small number of larger contracts for more than 1,000 sqm and, except for the GALERIA lease (6,800 sqm), only one contract for more than 5,000 sqm were recorded. Due to the overall restrained demand, however, the size category between 5,000 sqm and 10,000 sqm has an above-average market share of almost 18% (Ø 10 years: 11%).
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As is typical for the Dusseldorf office market, the high proportion of deals in the size category of up to 1,000 sqm again accounted for half of take-up in the 1st quarter. However, it is also noticeable that, in absolute terms, take-up in these size categories is well below the long-term average.
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The very limited supply and continued high demand for high-quality space had already led to a further increase in prime rents in recent months compared to the same quarter of the previous year. The prime rent currently stands at € 43.50 per sqm (+4% year-on-year). In contrast, the more volatile average rent is paying tribute to the generally subdued letting activity and stabilized at the level of the last quarter (€18.90 per sqm).