SOLID RESULT IN THE FIRST HALF OF THE YEAR
After the Cologne office market reported a record volume in the first quarter, the situation has recently calmed down to a certain extent. Nevertheless, with a total take-up of 147,000 m², the half-year figures are quite pleasing and slightly (5%) above the long-term average. Around 40% of the space was rented in the city (59,700 m²), underlining its status as the most important office market zone in the cathedral city. It benefits in particular from the large number of contracts in the medium and small segments - for larger lettings there is no corresponding offer. The largest transaction to date in 2019 finally took place in a secondary location: The Sparkasse KölnBonn has rented around 15,800 m² in a project development in Cologne-Ossendorf. Such new construction projects are also urgently needed in order to be able to serve requests for larger and modern premises, as the reduction in vacancies continues in 2019 and the space available at short notice is reaching new lows.
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