At a Glance Q1 2020

Office market Cologne

Büromarkt Köln


The Cologne office market had a rather moderate start into the year with take-up of around 41,000 m² and fell short of the long-term average by around 30%. It is not surprising that the record result of the previous year (-53%) could not be repeated. Among other factors, last year the market benefited from larger deals and numerous lettings in the 1,000 to 5,000 m² range. In the first three months of 2020, demand on the market was again high. However, so far there has been a lack of larger contracts in particular. There are several reasons for this: Firstly, there is still a lack of available, larger and modern spaces in Cologne. Second, a big number of contracts were signed in the final quarter of 2019. It has often been observed that after a strong final quarter, the market comes to rest in the first weeks of the year. Last but not least, the uncertainty of demand due to the Corona crisis is also impacting the Cologne office market.

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