TAKE-UP INCREASES SIGNIFICANTLY COMPARED TO THE PREVIOUS YEAR
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Although take-up in Munich's warehouse and logistics market increased significantly to 33,000 sqm in the first quarter compared to the weak start to the year last year (+83%), it once again missed the ten-year average (-34%). In a nationwide comparison, the market in the Bavarian state capital thus shows a similar trend to many other major logistics hotspots. Nearly all major markets were able to increase compared to the rather weak previous year, but the majority did not reach the long-term average.
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Due to the difficult economic conditions, many companies are still hesitant to make investments and rent new space. Nevertheless, there has been a significant increase in requests in the small and medium-sized space segment in Munich.
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While the first three months of the previous year were mainly characterised by rather small leases of up to 5,000 sqm, contracts above this mark have now also been registered with around 9,000 sqm. These include a logistics service provider in Markt Schwaben and a production company in Erding.
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The rent level did not change in the first quarter. While the prime rent remains at €10.50 per sqm, the average rent rose to €9 per sqm over the course of 2024 and has since stabilised. In a nationwide comparison, market rents in Munich remain by far the highest.