SIGNIFICANT INCREASE IN LETTING ACTIVITY
The Düsseldorf office market is presenting a much livelier picture again at the end of the first half of 2022. A total take-up of 177,000 m² was registered, which corresponds to an increase of 64% compared with the previous year. However, for the moment the market is still 6% behind the long-term average. The second quarter in particular saw a marked acceleration in letting activity. A take-up volume of 102,000 m² was recorded, representing an increase of 36% on the subdued start to the year (Q1: 75,000 m²). It is noteworthy that, in contrast to the early months of 2021, two deals in the five-digit range were concluded. These include the deal signed by VHS Düsseldorf in the Derendorf submarket with a volume of 17,600 m² of space and that of Ernst & Young in the Friedrichstadt submarket with a take-up of around 14,700 m². Letting activity has picked up noticeably, especially in the mid-sized segment. In the space size between 5,000 and 10,000 m², the letting volume increased by 16% in the second quarter, as well as 36% between sizes of 2,000 and 5,000 m².