KICK-OFF WITHIN THE RANGE OF THE USUAL VOLATILITY
The Essen office market started 2021 with a somewhat mixed result. The currently reported take-up of 22,000 m² is a good 35% below the strong result of the previous year, and the long-term average was also missed by around 19%. At first glance, however, the decline appears much more serious than it actually is, given that the Essen market is always subject to certain fluctuations, particularly in the first quarter. In the past ten years, for example, the 30,000 m² threshold was only broken four times in the first three months of the year and three times the 20,000 m² mark was missed by a wide margin. In view of the fact that most of the market activity in 2021 has so far taken place in the small-space segment, there is no reason to believe that the Essen office market has lost much of its dynamism in the long term.
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