At a Glance Q1 2024

Office market Cologne

Büromarkt Köln


  • With take-up of around 32,000 m², the Cologne office market got off to a rather subdued start to the year, falling short of the long-term average and the previous year's result by around 46%. Last year, the market benefited from larger deals, for instance. These are unfortunately still lacking, resulting in a shortage of contracts over 3,000 m². However, demand in the large-scale segment is also relatively lively, which is why an increase in the result should also be expected here in the further course of the year.
  • The small and medium-sized segment is much more active. A good 31% of the current result is registered in the space segment below 500 m². An above-average 38% of take-up was achieved in the 1,000 to 5,000 m² segment. This also includes the largest letting to date by Worley Projects in the Ehrenfeld submarket with 2,300 m² of rental space.
  • The prime rent in Cologne stabilized at the level of €33.50/m² achieved over the past three months. Compared to the previous year, however, there was an increase of 8%. It is achieved for high-quality office space in prime city centre locations. Although the generally more volatile average rent shows slight fluctuations in individual submarkets, the overall rent level is very stable. The average rent currently stands at €18.00/m² (-1% compared to Q4 2023).


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