At a Glance Q4 2023

Logistics investment market Germany

Logistik-Investmentmarkt Deutschland


The logistics investment market continued to gain momentum in the fourth quarter, reaching a transaction volume of €6.1 billion for the full year. Nevertheless, the result cannot match the record result from the previous year (-40%) and also remains around 15% below the ten-year average. The first half of the year was particularly subdued, with low market activity and a comparatively small number of deals due to significant changes in the interest rate environment. The third quarter experienced a boost from larger portfolio transactions and increased investment in single properties. This is highlighted by the impressive second-highest quarterly result ever recorded in this segment, which amounted to €1.7 billion. The fourth quarter ended ahead of the five-year average, up 15.2% to €2.4 billion, driven by the sale of portfolios. As a result of this finishing performance and the weak development of the office asset class (€6.0 billion), logistics property is now, for the first time, the leading property type in the total commercial investment volume of €23.3 billion.

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