SIGNIFICANT DECLINE IN TAKE-UP
The absence of an economic tailwind and the ongoing debate about home office quotas impacted the Dortmund office market over the past year. Take-up of 81,000 m² registered in 2023 was around 37 % below the previous year's very strong result. Meanwhile, the long-term average was missed by almost a fifth. In a nationwide comparison, however, the decline can be considered as moderate. Especially the final quarter, in which a clear market revival was recognisable, contributed to this. Around 30,000 m² of take-up can be attributed to the last three months of the year, which corresponds to an above-average quarterly result, even in a long-term comparison. At just over 24,000 m², around one third of the take-up was achieved in the City Centre submarket, where the City of Dortmund let almost 7,000 m² for various municipal users, representing the second-largest letting of the year. The office market zones Phoenix-See (10,600 m²), Westfalendamm (8,700 m²) and the remaining city area (11,500 m²) also recorded significant take-up.