OFFICE MARKET WITH STRONG PERFORMANCE, TAKE-UP INCREASES SHARPLY
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The Cologne office market delivered a convincing result at mid-year 2025. In the first six months of the year, total take-up reached 115,000 sqm, representing an increase of nearly 90% compared to the weak performance in the previous year. Following a strong start to the year with 67,000 sqm, a solid second quarter of 48,000 sqm confirms the city’s ongoing recovery toward its long-term average.
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A direct comparison with the previous year shows that letting activity gain momentum significantly across almost all size categories—not only in the small and medium segments but also for leases exceeding 10,000 sqm. Unlike the past two years, large lettings were already recorded in the first half of 2025. Notably, Jobcenter Cologne signed two contracts of around 15,000 sqm each.
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However, looking at long-term trends, the overall market momentum is still below average. Only the segment up to 1,000 sqm has returned to near-average levels. In contrast, there are still no lettings between 5,000 and 10,000 sqm.
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The prime rent has remained unchanged at €33.50/sqm since the end of 2023. The more volatile average rent stood at €19.40/sqm at mid-year 2025—about 3% higher than the previous year.