Figures
Düsseldorf Office Market Q1 2026
Düsseldorf's office leasing market shows stable growth and increasing positive momentum
22 April 2026 5 Minute Read
Looking for a PDF of this content?
Overview
The Düsseldorf office leasing market (consisting of the cities of Düsseldorf, Hilden, Ratingen, Erkrath, and Neuss) showed an overall stable trend in the first quarter of 2026, with increasing positive momentum. At 40,800 sq m, take-up remained at the same level as in the same quarter of the previous year. Despite this stability, the average deal size presented a more nuanced picture. It was higher than in the same period last year—as tenants are once again increasingly making leasing decisions in the mid-sized and larger space segments.
An analysis of rental trends by quality class underscores tenants’ clear preference for modern, high-quality office space, which—based on new space concepts and work environments—is meeting with greater acceptance of the increased rental price levels. The competition for talent—for which Düsseldorf, as an international business hub and part of the Rhine-Ruhr metropolitan region, is generally very well positioned—increases the importance of attractive locations, top-quality buildings, and space amenities for companies seeking to optimally position themselves in the market for recruiting and retaining skilled workers.
Trends
- The weighted average rent continued its upward trend, rising by just under 17% to €20.78/sq m/month, driven primarily by the high proportion of high-quality, premium-priced space in total leasing volume; the sustainably achievable prime rent also recorded a slight increase of 2% compared to the same period last year, reaching €46.00/sq m/month
- Larger lease transactions once again accounted for an above-average share of the total volume, which can be interpreted as a sign that market-related uncertainty is gradually subsiding, and strategic location decisions are being pursued more actively again
- On the supply side, the market remained characterized by low completion activity, keeping vacancy rates roughly at the previous quarter’s level; space offered for sublease increased moderately, while the volume of speculative space scheduled for completion within the next twelve months declined slightly
- Net initial yields remained stable, standing at 4.9% for prime office buildings in the CBD, 5.5% in city fringe locations, and 6.25% in peripheral locations; going forward, a sideways trend or moderate upward pressure is expected
Outlook
The development pipeline continues to shrink significantly, with a growing distinction emerging between projects already in the construction phase and those still in the planning stage. In the medium term, owner-occupier projects in particular will account for a larger share of the project pipeline. Speculative projects, on the other hand, almost never begin without a certain pre-leasing rate. In the case of ongoing projects, however, a large portion of the space yet remains vacant, meaning that some new space will still come onto the market this year.
Against the backdrop of stabilizing demand, an increase in space absorption is expected going forward, especially as the “flight to quality” continues, while countercyclical construction activity means there is little suitable product available. In this context, the qualitative differentiation of vacancies is becoming increasingly important. While modern, marketable space—particularly in prime locations—continues to be absorbed relatively quickly, structural vacancies are concentrated primarily in older, outdated existing properties. Overall, this trend already in the first quarter of 2026 points to an ongoing market consolidation in favor of high-quality office space, so that the vacancy rate—unless properties no longer in line with market conditions are upgraded or repurposed—will stabilize or develop more positively than recently.
The outlook for 2026 points to a revival in leasing activity. At least one concrete large-scale deal involving tens of thousands of square meters is currently under negotiation and is expected to be finalized later this year. The owner-occupied properties on Haroldstraße, which will be included in the sales statistics once construction begins, will have an additional stabilizing effect on market activity, making a total annual sales volume of around 300,000 sq m a realistic prospect.
Research Contacts
Business Contacts
Georg Hölz
Managing Director | City Lead | Head of Investment Düsseldorf & Region West
Simon Herlitz
Managing Director | Head of Office Leasing Duesseldorf and Cologne
