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Bonn office space stock at peak level

In 2020, a total of almost 134,000 square meters of space was marketed. The average rental price is 14.85 euros per square meter. The vacancy rate has fallen further and stands at a very low 2.1 percent.

The Office for Economic Development of the City of Bonn, in cooperation with local players in the office property market and the Gesellschaft für Immobilienwirtschaftliche Forschung (gif), has collected office market data for the eleventh time. 

The total office space turnover in the surveyed year 2020 has increased compared to the previous year to a total of 133,873 square meters (2019: 108,595 square meters). This result is made up of 108 registered contract signings (2019: 115), some of which include very extensive space. 

Average office rent in 2020 was 14.85 euros per square meter

The average realized rental price in Bonn last year was €14.85 per square meter (2019: €13.21 per square meter). Overall, the average realized rent per square meter has risen by €3.07 since 2017.

In contrast to the increased average rent, the realized prime rent of 20.00 euros per square meter last year is 5.22 euros per square meter lower than in 2019. In this context, the prime rent is determined by an average value, a so-called median, of the highest realized rents.  

In 2020, Bonn had 3,953,972 square meters of office space (2019: 3,928,799 square meters). With a calculated vacancy rate of 82,739 square meters, the vacancy rate is a very low 2.1 percent (2019: 2.5 percent). Only a very small proportion of 8,730 square meters is to be regarded as structural vacancy, which could not be marketed over a period of more than three years, normally because of its condition. 

"The high turnover of space and the low vacancy rates in return are evidence of a vital Bonn office property market, even in 2020, which was overshadowed by the Corona pandemic. The high demand from federal institutions for office space demonstrates the important role of federal institutions for Bonn as a business location," says Bonn Economic Development Manager Victoria Appelbe, summing up market activity.

Largest new office building in 2020 on Godesberger Allee

In 2020, a total of five construction projects with a total of 25,173 square meters of new office space were completed (2019: 52,679 square meters). The largest of these is at 138 Godesberger Allee and will be used in future by a federal government institution. It has 10,766 square meters of office space.

Further space in the order of 138,300 square meters is currently under construction. The largest construction project at present is Bundeskanzlerplatz, with a total area of around 66,000 square meters.

Construction will continue in 2021, including the extension to the UN Campus and a new 5,000-square-meter building in Weststadt. Around 43,400 square meters of further office space is expected to be completed in the current year.

Real estate service of the Bonn Economic Development Agency

The real estate service of the Bonn Economic Development Agency is in close contact with providers of office space, owners and brokers and maintains a continuously updated database in which real estate offers are listed. Inquiries from companies and institutions interested in renting can thus be answered in a demand-oriented and targeted manner. In addition, statistics on the office market in Bonn are collected annually; the results are published in the brochure "Büroflächenmarkt Bonn" (Bonn Office Space Market) and will soon be available on the City of Bonn's website.

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