The office market in the Cologne municipal area posted 110,000 sqm in take-up in H1 2021, reflecting a yoy increase of 29%. The public sector once again played a key role in the city’s take-up results, signing three largescale leases in the first half of the year. These three leases accounted for roughly 44% of the city’s total take-up in Q1. There was little movement in terms of excess available space. The vacancy rate rose slightly to 2.6%.
Following a slow start to the year, activity on the Cologne investment market picked up speed to bring home an excellent H1 result. Activity increased among numerous market players in Q2, boosting transaction volume slightly compared to H1 2020. The City submarket set the stage for the majority of deals closed in all asset classes in H1, accounting for slightly more than 50% of total transaction volume.