CORONA SLOWS DOWN OFFICE MARKET ACTIVITY
After a strong result in the first quarter of the year, the Corona crisis has also affected the activity on the Düsseldorf office market: In total, the take-up at the end of the first half of the year was therefore 158,000 m², which is just under 18% below the long-term average. However, against the background of the lockdown and the uncertainties associated with the impending recession, this development is not surprising. However, the volume in the second quarter (46,000 m²) illustrates the temporary hesitation of tenants, some of whom have temporarily postponed leases for new office space. In addition to the external effect of the Corona crisis, the currently low supply of space with modern equipment quality in city centre locations is has also an impact on take-up. Based on this supply bottleneck, no rent adjustments are expected in the upcoming quarters.
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