Office markets in the Ruhr region in stable condition
17.3 m sqm MFG
Office space stock 2021
209,000 sqm MFG
New space access
16.00-19.00 Euro/sqm MFG
Achievable top rent
The office markets in the cities of the Ruhr region are in just as good, stable shape as in other major German office markets. They have also passed their baptism of fire, which has now lasted two years, under the media bombardment on the subject of home offices.
While there are some corporations reducing space, both the German and regional economies are still poised for growth and transformation, especially in the service sector. Quality of working environments and the battle for qualified employees dominated the office real estate market in 2021 as the most important topics - and will continue to do so. Picking up demand for space suggests that the corporate office will remain a key component in a changing work organization. The second-highest turnover result last year was driven primarily by the core cities. Dortmund stands out here with a record turnover of 168,000 sqm MFG.
A closer look at the figures in the Ruhr cities is particularly exciting in these months. Market rents are actually rising more strongly than in the A-cities because quality space is being offered in Essen, which did not exist in this form until 2020. This contrasts with the local vacancy rate, which is rising in some cases and falling in others. Here, too, Essen stands out with a high and rising vacancy rate of 6.3%. Opportunities and risks are also close together in the Ruhr region in 2021.