In the first six months of 2026, Düsseldorf’s office market achieved take-up of 99,000 m². This is the result of the analysis by BNP Paribas Real Estate.
“The result is in the same order of magnitude as in the first half of 2025 (98,000 m²). In the five-year view, sales are still around 15% below the average. This is mainly due to the ongoing geopolitical uncertainties, the gloomy economic environment and structural changes on the user side, which are causing many companies to adopt a more cautious leasing strategy. This reluctance continues to have an inhibiting effect on market dynamics,” explains Philip Bellenbaum, Düsseldorf branch manager of BNP Paribas Real Estate GmbH.
The high demand impulses in the segments up to 1,000 m², which alone account for a good half of the result and achieve a significantly higher market share than the average of the past ten years (~41%), are encouraging. The low number of large-volume contracts is having a particularly negative effect. Although KPMG’s deal for 17,300 m² on Kennedydamm in the second quarter resulted in lettings exceeding the 10,000 m² mark, the lack of closing activity in the size segment between 5,000 and 10,000 m² is clearly significant. Thus, only a below-average 17% is accounted for by the large-volume classes.
The continued high demand for top space combined with limited supply has led to a further increase in rental prices. The prime rent is currently quoted at €46/m² (+6% compared to Q2 2025). The average rent has also continued its upward trend and is at a new record high of €23/m² (+20% year-on-year).
Consulting firms set the tone, only a few new construction areas left
The above-mentioned KPMG contract is clearly reflected in the distribution of take-up by sector: the consulting firms clearly lead the field with an above-average share of 37.5% of take-up. Retail companies follow at a clear distance in second place with just under 16%. A strikingly large number (21) of small and medium-sized rentals are in this category. In addition, the healthcare sector also managed to secure a significant share of the total result with almost 11%.
The vacancy volume increased slightly compared to the same period last year. At the end of the first half of 2026, 1.26 million m² of office space was available at short notice, a good 2% more than in the previous year. Of these, only about 44% have modern equipment. The vacancy rate is currently 12.4% in the market area and 9.5% in the urban area.
Construction activity continues its downward trend. The volume of new construction currently amounts to 139,000 m², which is around 47% below the previous year’s figure. A large part of the space under construction was already rented out or occupied by owner-occupiers before completion, so that only 64,000 m² of this space is still available for rent. This brings the pre-letting rate to 54% compared to Q2 2025 (39%).
Prospects
The Düsseldorf office market recorded a comparatively solid half-year result. Nevertheless, overall market activity remains at below-average levels. This is mainly due to the persistently weak economy and the current macroeconomic and geopolitical uncertainties.
A further slight increase in vacancy is expected for the coming second half of the year. At the same time, however, it is evident that modern new-build space, especially in central locations, continues to be in high demand and has only low vacancy rates. This illustrates that high-quality properties in attractive inner-city locations are still being taken up quickly by the market.
Further market development remains closely linked to the influencing factors, which are challenging in many respects. Provided that the existing uncertainties do not intensify in the second half of the year, positive market impulses are likely to prevail and stimulate leasing activity.
“The major searches currently available on the market also suggest a positive development in the coming months. Against this background, a year-end result of between 230,000 and 250,000 m² seems ambitious, but certainly achievable,” says Philip Bellenbaum.
