LOGISTICS MARKET IN CRISIS MODE
The Düsseldorf logistics market reflects the effects of the Corona crisis very clearly over the course of the year. The first quarter was still very promising with a take-up of 52,000 m². In view of the measures taken to contain the Corona pandemic, leasing activity fell sharply to just 18,000 m² in Q2. In the third quarter, on the other hand, there are signs of a moderate recovery with a take-up of 24,000 m². In total, the take-up in the first nine months amounts to 94,000 m², which is 13 % below the result of the same period of the previous year. In comparison to the 10-year average, this represents a decline of just over 50 %. One reason for the currently observed downward trend is certainly that potential tenants and owner-occupiers sometimes postpone their expansion plans in view of the unclear overall economic outlook. A further, no less significant obstacle, however, is the persistent shortage of space. The supply on the Düsseldorf logistics market is remains far too low, both in existing and new buildings. The mismatch between supply and demand prevents higher take-up volumes as some potential users simply cannot find appropriate logistics space.
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