MODERATE START TO THE YEAR IN ESSEN
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With office take-up totaling just 10,000 sqm, the Essen office market recorded a weak start to 2026, falling to less than half of the previous year’s result. The long-term average of approximately 24,000 sqm was also clearly missed. In smaller office markets such as Essen, where market dynamics are often driven by a limited number of large-scale lettings, weaker individual quarters are not uncommon and should primarily be viewed as a snapshot in time. Historically, higher take-up tend to be realized in the second half of the year, making a subdued start with significantly below-average figures a recurring pattern rather than an exception. This was also evident in 2024, when Q1 activity was limited, yet the year ultimately closed with a solid overall result.
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The largest lettings concluded so far in 2026 include a 1,700 sqm lease by construction company Johann Bunte in the subcenter, a co-working provider securing approximately 1,200 sqm also in subcenter location, and a consultancy firm leasing around 1,000 sqm in the Südviertel. Beyond these contracts, market activity has so far been characterized by predominantly small-scale lettings, which explains the overall low take-up volume.
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The prime rent has remained stable at €20/sqm since December 2025 and continues to be achieved for high-quality office space in the most sought-after inner-city locations. The average rent currently stands at €13.80/sqm.