CORONA AFFECTS LETTING ACTIVITY
Corona had a strong impact on the Düsseldorf office market in 2020. With a take-up of 275,000 m², the record result of 2019 was clearly undercut by around 49%. The long-term average was also missed by almost 29 %. This below-average result is clearly due to the Corona crisis and the related uncertainties for companies, which as a result avoided long-term investment decisions and accordingly postponed some planned lettings for the time being. The course of the pandemic is clearly reflected in the corresponding quarterly results: In the first quarter of the year, a good volume of 112,000 m² was still achieved, whereas the first lockdown noticeably shaped the Q2 result (46,000 m²). In the third quarter a slight upswing in market activity was observed (67,000 m²), which then slowed again (50,000 m²) due to the renewed social restrictions in the traditionally strong last quarter.
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