Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1} Share on Xing

Major lettings ensure lively 4th quarter 2022 in Düsseldorf office market

Verena Bauer • 10/01/2023

In 2022 as a whole, the Düsseldorf office letting market achieved a take-up of 284,100 sq m. This is comparable to the modest levels of the two preceding years. After there were no major lettings in the third quarter, four major deals were signed in the fourth quarter. Thus, a total of 78,900 sq m of office space was let or allocated to owner-occupiers in the final quarter. Among the major deals in the fourth quarter, the public sector owner-occupancy of the 12,900 sq m DoubleU office building in the Kennedydamm submarket, is particularly noteworthy.

Vacancy rate exceeds the 8 percent mark

The vacancy rate at the end of the 4th quarter was 8.1 percent. At the end of the previous year it was 7.8 percent. The main reason for this is an increased supply of subletting space. Numerous large users are now making space available to the market due to their changed requirements. At the end of the year, the amount of office space available to let for immediate occupancy amounted to 753,200 sq m. 

Office pipeline reaches new record level

The office completion volume for the full year 2022 amounts to 113,600 sq m. Although this means that significantly less office space was completed than in the previous year and less than the average of the past five years, the pipeline currently under construction and nearing completion is extensive.

A total of around 376,500 sq m of office space is currently under construction in Düsseldorf, the majority of which (148,400 sq m) is scheduled to be ready for occupation as early as 2023. Never before has there been a higher construction volume at the end of a year. At the current time, 32 percent of the projects under construction are already let or allocated to owner-occupiers.

Prime rent jumps to record level in 4th quarter

The sustainable prime office rent in Düsseldorf jumped by EUR 5.00/sq m per month within a single quarter at the end of the year, to a new record level of EUR 35.00/sq m per month. This prime rent is achieved in the Central Business District (CBD) submarket. The realized prime rent (median of the most expensive leases concluded within the past 12 months) is currently EUR 33.30/sq m per month. Compared to the previous quarter, this represents an increase of around 13 percent (+ EUR 3.80/sq m).


DUS Büromarkt Grafik

Martin Höfler, Head of Office Agency Düsseldorf at Cushman & Wakefield, explains: "The above-average increase in the achievable prime rent to EUR 35.00/sq m per month is the result of the high quality and location requirements of tenants. They prefer space in modern project developments. ESG requirements and higher construction costs are also causing rents to rise. Individual leases are being agreed at even higher rents, a trend that will see prime rents continue to rise over the course of 2023."

The weighted average rent has continued to rise over the past twelve months and stands at EUR 19.50/sq m per month at the end of Q4. Here, recently concluded high-priced large lettings have once again significantly increased the average rent level.


DUS Büromarkt Grafik


verena bauer
Verena Bauer

Head of Marketing & Communications Germany, Cluster Lead • 60313 Frankfurt am Main


office fit out cost guide 2023
The Race For The Best Office Space: Fit Out Costs Across Europe Rise 9%

The UK and Germany top the list of most expensive regions to fit out an office with costs expected to remain high in the near term before falling in 2024.

Verena Bauer • 05/04/2023

Berlin Investment Market Q4 2022

In 2022 international active real estate consultancy firm Cushman & Wakefield registered commercial real estate transactions in Berlin with a total volume of EUR 8.54 billion. 

Verena Bauer • 13/01/2023

BER Büromarkt
Berlin Office Market Q4 2022

International real estate consultancy firm Cushman & Wakefield has registered take-up of 778,300 sq m in Berlin's office letting market in 2022. 

Verena Bauer • 12/01/2023


C&W Lobby
Insights • Office

Office Fit Out Cost Guide

An office fit out refers to the process of designing and constructing an office space to meet the specific needs of the occupier. This can include everything from furniture and equipment to mechanical and electrical systems.
Frank Masuhr • 04/04/2023
Reichstag Building, Berlin, Germany
MarketBeat • Insights

MarketBeats Germany

Quarterly market figures and trends in Germany and its TOP-5 real estate markets. Short, concise and to the point.
Helge Zahrnt • 24/01/2022


Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
These cookies ensure that our website performs as expected, for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All