MODERATE OUTCOME FOR THE FIRST HALF OF THE YEAR
In the first half of 2021, the Essen office market recorded a rather restrained level of market activity. With a take-up of 39,000 m², the previous year's result was missed by a quarter and the long-term average by around 36%. The moderate volume can be explained by two factors: On the one hand, due to the lockdown that was in place for a long part of the second quarter, companies were still cautious about investment decisions and postponed their planned leasing activities once again. On the other hand, the low supply of office space available at short notice is also a limiting factor. This is the reason why some company requests cannot be met at present. This applies particularly to the space segment from 5,000 m² upwards. However, with the vaccination campaign clearly gaining momentum and the related prospect of a return to the office in the near future, the office market outlook for the remaining months of 2021 is way more optimistic.