NOTICEABLE UPTURN IN THE FOURTH QUARTER
Hamburg's storage and logistics space market achieved a take-up of 488,000 m² in 2020. This is an increase on the very weak previous year's result of almost 31 %, but still 8 % less than the ten-year average. While 2019 was mainly characterised by a lack of supply, where the high demand could not be realised accordingly, the effects of the Corona pandemic were felt in the Hanseatic City in 2020. After a very low take-up in the second quarter (38,000 m²), a number of owner-occupier construction starts contributed to a high result in the third quarter - most notably Rewe with 86,500 m² in Henstedt-Ulzburg. Demand picked up again at the end of the year, so that an overall good result was achieved.
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