TAKE-UP REMAINS AT A RELATIVELY LOW LEVEL
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By the end of September 2026, the Munich warehouse and logistics market recorded a take-up of 126,000 sqm, remaining approximately 36% below both the previous year's period and the ten-year average. This weaker performance is primarily due to the absence of any lettings exceeding 11,000 sqm so far this year. Nevertheless, market activity remains brisk, as reflected in the high number of lease agreements signed. However, these deals have so far lacked the volume needed to generate stronger take-up.
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The recent economic weakness and the repercussions of the Iran war are also being felt in the Munich logistics market, resulting in slightly subdued demand and longer decision-making processes during lease negotiations. At the same time, the supply of available space in the core market area remains extremely limited, continuing to constrain take-up, particularly in the large-space segment.
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Rental levels have risen compared to the previous year, with prime rents increasing by 5% to €11.25/sqm and average rents by nearly 8% to €9.90/sqm. This growth occurred towards the end of 2025; since then, rents have remained constant.