MUTED MARKET ACTIVITY KEEPS TAKE-UP BELOW AVERAGE
-
As in the first half of 2026, activity in the Essen office market remained subdued in the third quarter. This was primarily due to the still challenging economic and geopolitical environment, which has led many companies to adopt a cautious approach to leasing decisions. By the end of September, office take-up totaled only around 31,000 sqm, down 33% year-on-year and approximately 60% below the long-term average. Following a moderate start to the year and a particularly weak second quarter with just 8,000 sqm of take-up, market momentum picked up slightly between July and September, reaching 13,000 sqm.
-
A key reason for the overall muted market performance was the low number of lease contracts completed. Only around 60 leases were registered during the first nine months of the year, around 22% below the ten-year average. In particular, the market lacked major deals in the large-scale segment above 5,000 sqm. By contrast, leasing activity for smaller units of up to 1,000 sqm proved significantly more dynamic. As a result, this size category accounted for approximately 69% of total take-up.
-
Prime rent has remained unchanged at €20/sqm since the end of 2025, representing a 5% increase year-on-year. At the same time, the average rent has moved largely sideways since the end of Q1 2026 and currently stands at €13.40/sqm.