TAKE-UP SLIGHTLY BELOW PREVIOUS YEAR
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In the first three quarters of the year, take-up in the Berlin warehouse and logistics market totaled 298,000 sqm. The weak economic climate and geopolitical uncertainties are also impacting the capital region. This result is approximately 7% below the prior year's figure and roughly 18% below the ten-year average. Nevertheless, Berlin ranks second among the major logistics markets, behind Frankfurt (320,000 sqm) and ahead of Hamburg (283,000 sqm).
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Potential occupiers continue to act with caution, often waiting for further economic developments. Consequently, existing spaces are being utilized for longer periods rather than leasing additional capacity. Simultaneously, the trend of increased demand from Asian companies persists. This development, which has already become established in North Rhine-Westphalia, has been increasingly observable in the capital region since the beginning of the year. Two of the largest lease agreements of the current year were signed by the Asian e-commerce company JD Logistics: after leasing approximately 39,000 sqm in Ludwigsfelde in the first quarter, the company secured a further 25,000 sqm of logistics space directly within the Berlin core area in the third quarter.
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As the available supply is currently increasing — particularly due to newly completed, as-yet unlet properties — rental prices have remained stable since the start of the year. The prime rent remains unchanged at €8.30/sqm, while the average rent stands at €7.30/sqm.