Logistics Dashboard

At the start of 2024, the German logistics markets were characterised by generally subdued market activity, which resulted in take-up of 1.02 million m² (including owner-occupiers) by the end of the first quarter. This result is 18 % below the previous year's figure and around 31 % below the ten-year average. The economic downturn, which has now persisted for several quarters, has thus also made itself felt for the first time in registered logistics space take-up, albeit with a slight delay. The noticeable rise in rents, high cost awareness on the part of occupiers, longer review processes for letting and the continuing shortage of adequate space in many agglomerations all play a role in the lower fluctuation in the market. Accordingly, occupiers are currently increasingly tending to draw on their contract options and extend expiring leases. While the average prime rent in the top locations rose by 9 % to 8.05 €/m² in a twelve-month comparison, growth slowed noticeably in the first quarter. Only Hamburg and Berlin recorded increases compared to the fourth quarter.