At a Glance Q4 2023

Office market Dresden

Dresden Frauenkirche


Despite the challenging market conditions, Dresden's office market remained resilient in 2023. Overall, the state capital of Saxony recorded a take-up of 114,000 m² by the end of the year, achieving the second-best result in the last ten years. Only in 2021 an even higher take-up of 120,000 m² was generated on the Dresden market. This represents an increase of around 31% compared to the previous year, and the long-term average was also exceeded by almost 17%. The letting activity in the small and medium-sized space segment up to 5,000 m² was particularly impressive. Especially noteworthy is the category between 2,000 and 5,000 m² with a good 23% or around 26,000 m² of take-up. Notably, TÜV SÜD let 4,300 m² in the southern Centre Fringe/University District submarket, which was the second-largest letting. In the large-area segment with over 10,000 m² of rental space, the city centre location recorded almost 22,000 m² of take-up (19% pro rata) due to the letting concluded by the state capital of Dresden. Overall, more than half of the take-up (56,200 m²) was accounted within the city centre.

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