TAKE-UP PREVIOUS YEAR'S LEVEL
After three quarters, the Düsseldorf office market is at a similar level to the previous two years. Compared to the same period 2021 take-up rose by 2% to 216,000 m² by the end of September. However, the 10-year average was missed by almost 25%. After a generally solid start to the year (Q1: 75,000 m²) and a much more dynamic second quarter (Q2: 102,000 m²), the letting activity has slowed down noticeably in the past three months. For the third quarter a below-average take-up of only 39,000 m² is registered. Across all size classes, a clear decline in the number of lettings successfully completed can be reported, whereby the slowdown in the medium and large space segment is particularly striking. In the third quarter, no contract above 5,000 m² was signed. With the exception of the Air Liquide contract (4,400 m²), there were no contracts covering more than 1,500 m² of office space in Q3.