Research
Cologne Office Market Dynamics, Q4 2024
Summary and analysis of Cologne's current office real estate market conditions.
January 16, 2025
Contributors:
- Karin Frahne
In 2024, the Cologne office letting market recorded a take-up volume of 229,300 sq.m., representing a 10% increase compared to the previous year. This positive result is mainly due to two large deals that concluded in the third quarter.
The vacancy rate has increased by 100 basis points year-on-year, but at 4.3%, still remains low.
The prime rent has remained stable over the last twelve months at €32.50/sq.m./month. In contrast, the weighted average rent has increased by 5%, reaching a new high of €19.98/sq.m./month.