Stable footfall, solid demand and, in some cases, slight upward trends in prime rents
In the first half of 2026, the retail market once again confirmed its currently very positive demand momentum, recording another high take-up result of around 238,000 m². Although this fell slightly short of the remarkable figure achieved in the same period last year (H1 2025: 251,000 m²; -5%), the retail sector nevertheless posted an above-average half-year result in terms of letting volume in city-centre locations (average since 2020: just over 228,000 m²). Department store re-lettings were a key driver of the strong prior-year result, generating a volume of almost 44,000 m² in the first two quarters of 2025 alone, equivalent to 17% of the total. However, around 26,000 m² has already been let in former Galeria and fashion department stores in the year to date, representing an 11% share and underlining the continued strong momentum in this segment. International retailers are also currently providing important stimulus for the German retail market: almost 15 market entries have been recorded since the beginning of the year, already exceeding the total for 2025 as a whole. These included the US activewear brand Alo Yoga on Münzstraße in Berlin and outdoor equipment specialist Yeti on Georg-Kronawitter-Platz in Munich. Overall, brands from the US accounted for 12% of deals, making them the second most active region of origin among international labels, behind Danish brands at 17% and slightly ahead of Asian players at 10%.
Detailed insights into the 11 major retail markets of Berlin, Dresden, Düsseldorf, Frankfurt, Hamburg, Hannover, Cologne, Leipzig, Munich, Nuremberg and Stuttgart are provided in BNP Paribas Real Estate’s new Retail City Reports.
The report can be downloaded via the button on the right.
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