While office markets in other cities are struggling with stagnating or declining developments, Bonn is proving resilient and dynamic. Public institutions have played a major role in this, strengthening the location through extensive lettings and further consolidating the city as an administrative center.
Beuel-Süd/Bonner Bogen office submarket dominates market activity
Among Bonn's office submarkets, Beuel-Süd/Bonner Bogen was the strongest growth driver, outperforming last year's leader Bonn-Nord. The largest rental of the year was for a federal institution, which secured 60,000 square meters. In addition, the City of Bonn made a significant contribution to the market movement by renting 26,000 square meters at Oberkasseler Strasse 2. This is where a large part of the city administration is moving to during the refurbishment of the City Hall.
The 19,000 square meters and 9,000 square meters of space rented in Justus-von-Liebig-Strasse in the north of Bonn also went to public institutions, further underlining the trend of strong public-sector demand.
Construction measures and market requirements
In 2024, a total of 31,823 square meters of new office space was completed, spread across various submarkets. The new-build spaces vary in size between 3,900 and 17,700 square meters, offering a wide range of possible uses for companies and public authorities. Demand for smaller office space of up to 500 square meters remains consistently high - especially from small and medium-sized enterprises (SMEs). In this area, 65 new lettings were recorded, confirming Bonn's attractiveness for SMEs.
Rental price development: stability with upward potential
An analysis of rental prices shows a stable to slightly rising trend. The average cold rent is currently EUR 18.79 per square meter, while the prime rent has reached EUR 26.75 per square meter. This means that Bonn remains an attractive office location with competitive prices in a regional comparison.
Low vacancy rate underlines market strength
As at December 31, 2024, office space vacancies in Bonn totalled 134,900 square meters, of which 10,700 square meters are classified as structural vacancies. The vacancy rate for marketable space is 3.09%, which is still a very low level compared to other cities.
Looking ahead: growth continues
Further expansion of the office space market in Bonn is expected in 2025. Two new office buildings with a total area of 18,000 square meters are planned. While the smaller "Fritz³" project on Fritz-Bauer-Strasse in Duisdorf comprises 4,500 square meters, the larger "West Side" construction site 3 and 4 on Siemensstrasse offers 13,500 square meters of additional office space. This illustrates the continued confidence of developers and investors in the Bonn market.
The Bonn Economic Development Agency's real estate service will remain a central point of contact for those offering and interested in office space in the future. Through close cooperation with owners, real estate agents and investors, inquiries can be processed in a targeted and efficient manner. The detailed market data and analyses are published in the annual brochure "Bonn Office Space Market" and will soon be available on the City of Bonn's website.
For further information, please contact the real estate service of the Office for Economic Development: Clemens Jüssen, phone: 0228 77 4334, e-mail: immobilienservicebonnde