Germany - Nordrhein-Westfalen

City News Essen Q2 2011

Q2 2011

Turnover down on prior year

With take-up of 40,000 m², the Essen office market finished the halfyear almost 17 % down on the same period in 2010. One key reason for the fall in turnover is that there have so far been no deals in the size category upwards of 5,000 m², whereas in the first six months of last year this segment accounted for over half of the registered total. This makes it all the more gratifying to note that this year’s result was based on stable demand in the smaller and mid-range size brackets. The leading business-sector contribution to turnover was made by the headquarters of industrial companies (23 %), followed close behind by public administration (22 %). This provides further confirmation that the basis of demand was considerably broader than last year.

Author(s): several

Source: BNP Paribas Real Estate

Published: 07.07.2011