STABLE AT A VERY HIGH LEVEL
The Cologne office market has remained stable at a very high level since the start of the year. The dynamic from the first quarter has persisted in the following months, so that at the end of September a take-up of 231,000 m² (incl. around 13,000 m² by owner-occupiers) can be reported. This figure exceeds the previous year's result by a good 56% and the ten-year average by a good 8%. It is the best performance since 2017, which is especially remarkable considering that the first half of 2021 was under the influence of the Corona pandemic with all its restrictions including the lockdown. The significantly brisker leasing activity year-on-year is evident in all size categories, all of which recorded above-average take-up. The increase in large deals with more than 10,000 m² of rental space is particularly noteworthy. In this segment, take-up more than tripled to around 60,000 m², the second-highest figure in the past ten years.