RESULT SLIGHTLY BELOW 10-YEAR AVERAGE
At the end of the year, the Essen office market recorded a total take-up of 113,000 m², which is around 5% below the long-term average. The office market was unable to match the previous year's solid volume and thus reported around 15% less take-up than in 2022. The first half of the year was driven by a strong second quarter including the three largest lettings of the year, while the second half of the year was largely characterised by a shortage of major lettings until the most recent quarter, when 8,100 m² was let to an owner-occupier by Opta Data in the subcentres as well as 4,500 m² by the education authority of the city of Essen in the city centre. Reflecting on the full year, the largest driver of take-up has been the size category between 5,001-10,000 m², which recorded a well above-average result with a market share of around 28%.