The Cologne 2024 entrepreneurs’ round (from left): Roswitha Loibl (immobilienmanager), Dr. Stephan Hinsche (AIK Immobilien-Investment), Timo Wess (Bauwens), Oliver Quint (Strabag Real Estate), Knut Kirchhoff (JLL), Guido Dörrenberg (Sparkasse Köln Bonn), Anett Barsch (Swiss Life Asset Managers) and Arne Hilbert (Art-Invest). (Source: Boris Loehrer)
Cologne’s office market compared to Düsseldorf and the consequences of sluggish apartment sales: these are two topics that were discussed at the Cologne Entrepreneurs’ Roundtable. By Roswitha Loibl
Comparisons sharpen the view. So what is the main difference between the real estate markets in Cologne and Düsseldorf at the moment? The Cologne business group, which brought together seven market experts, cannot avoid this question. The first finding: office rents in Düsseldorf are higher. “50 euros per square meter are being discussed on the Kö,” says Knut Kirchhoffregional manager of JLL in Cologne. And in Cologne? In one of the most expensive new building projects, the Laurenz-Carré right next to the cathedral, “we are at 37 euros.” “Cologne will not reach rents as high as Düsseldorf,” he adds.
There are certainly positive aspects to this fact. “This means that Cologne has more room to enforce the necessary rent levels compared to other metropolises,” says Oliver QuintHead of the Cologne Division of Strabag Real Estate, because they are the only adjustment screw that can currently be turned in new buildings…
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Author: Roswitha Loibl
Senior Management Program at immobilienmanager
