Germany - Nordrhein-Westfalen

Köln city News Q3/2009

Turnover down

Take-up in the Cologne office market in the first three quarters of the year totalled 153,000 m2. Although this represents a year-on-year fall of more than 28 %, it is comparable with the result achieved in 2006. Up to now, there have been no lettings in the top size category of over 10,000 m2. Overall, however, the large number of newly oncluded leases indicates that demand remains lively. The city centre made its traditionally high contribution to turnover, with just under 39 %, but the centre fringe areas also performed well, with a share of more than 44 %. In terms of business sectors, other services represented the biggest source of demand (26.5 %), followed some way behind by consultancies (14 %) and the media and advertising (almost 13 %).

Author(s): several

Source: BNP Paribas Real Estate

Published: 30.09.2009