In a Nutshell Q4 2023

Retail Letting Market Germany

Retailmarkt Deutschland 2020

Retail market Germany: High take-up and stabilised prime rents versus numerous bankruptcies of established players

2023 was a very turbulent year not only for the commercial investment markets, which were largely characterised by the challenging financing conditions, but also for occupier markets such as the retail market. In the first nine months of the year, there were six times as many major fashion bankruptcies as in the same period of the previous year (including P&C Düsseldorf, Hallhuber, Gerry Weber and the fashion company Ahlers). In addition, the negative headlines in connection with Signa Holding and the currently very expansive fashion store Aachener (now also bankrupt) created further uncertainty for many landlords and city centre locations in the fourth quarter. On the other hand, however, there were also numerous signs that reflect the thoroughly positive market sentiment on the letting markets: These included, first and foremost, the very good result in terms of take-up, which was achieved, among other things, by the successive re-letting of numerous shops that had been vacant for some time as well as looming vacancies. Developments in the prime rents segment were also positive, with the stabilisation trends that began in the previous year continuing to strengthen.


1A-cities: Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne, Munich, Stuttgart