DÜSSELDORF OFFICE MARKET COMPARATIVELY SOLID
The Düsseldorf office market was comparatively solid in 2023. With take-up of 280,000 m², it fell only slightly short of the previous year's result by 4%, but was 23% below the long-term average. The below-average performance is due to the subdued letting activity in the first half of the year (95,000 m²). On a positive note, the market has picked up in the past two quarters. In the second half of the year, take-up in Düsseldorf totalled 185,000 m², which represents an upward trend. A special feature of the Düsseldorf market is the significant increase in rents in the absolute top segment. The remarkable increase in prime rents by €6/m² (+18%) to currently €40/m² is largely due to project developments around Königsallee. As in other top German office locations, high demand for modern space in premium locations in Düsseldorf meets a very low vacancy volume. At the same time, the average rent rose by €1.50/m² (+8%) to currently €20.90/m².