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REALOGIS H1 2022 rental map: Prime rent for existing properties up more than 20% in six markets
- Biggest gap between prime rent and minimum rent at EUR 2.80/m²
- Prime rent for existing properties in Hamburg higher than prime rent for new builds
- Ingolstadt records higher prime rent than the top 8 locations of Frankfurt and Stuttgart
- Minimum rents up an average of 16.2% across all 32 markets
“The biggest gap between the prime rent and the minimum rent for functional existing properties is found in Berlin,” reports Ben Dörks, Managing Director of Realogis Immobilien Berlin GmbH. “The difference between the most affordable and most expensive existing logistics properties for retail companies, manufacturers and their service providers is EUR 2.80/m².”
12 markets have a gap of less than EUR 1.00/m², 15 markets have a gap of between EUR 1.00 and EUR 2.00/m², and five markets have a gap of more than EUR 2.00/m² between the minimum rent and prime rent for existing logistics properties.
“Among the top 8 locations in Germany, the most expensive logistics location for existing properties in terms of the absolute prime rent at the top end of the range is the Hamburg metropolitan area at EUR 8.20/m²,” explains Stefan Imken, Managing Director of Realogis Immobilien Hamburg GmbH. This represents an increase of +18.8% compared with the prior-year figure of EUR 6.90/m².
At EUR 7.50/m², second place is taken by Berlin (unchanged year-on-year) and Munich (+15.4%, H1 2021: EUR 6.50/m²). They are followed by Frankfurt at EUR 6.90/m² (+21.1%, H1 2021: EUR 5.70/m²) and Stuttgart at EUR 6.90/m² (+6.2%, H1 2021: EUR 6.50/m²), then Düsseldorf and Cologne at EUR 5.60/m² (Düsseldorf: +9.8%, H1 2021: EUR 5.10/m²; Cologne +19.1%, H1 2021: EUR 4.70/m²). The most affordable existing properties are found in the Ruhr region with a prime rent of EUR 5.10/m² (+24.4% compared with EUR 4.10/m² in the previous year).
Ingolstadt records higher prime rent than Frankfurt and Stuttgart
In the same way as for new builds, the most expensive locations among the 24 regional champions when it comes to prime rents for existing logistics properties are found in southern Germany:
- At EUR 6.95/m² (+15.8%, H1 2021: EUR 6.00/m²), Ingolstadt is ranked just behind the top 8 locations of Hamburg, Berlin and Munich, and ahead of Frankfurt and Stuttgart
- At EUR 6.50/m², the next locations in line after Frankfurt are Nuremberg (+8.3%, H1 2021: EUR 6.00/m²), Augsburg (+30%, H1 2021: EUR 5.00/m²) and Karlsruhe (+30%, H1 2021: EUR 5.00/m²)
- Tenants in Regensburg are required to spend EUR 6.20/m² (+29.2%, H1 2021: EUR 4.80/m²)
- Prime rents in Mainz/Wiesbaden come in at EUR 5.90/m² (+13.5%, H1 2021: EUR 5.20/m²)
- Magdeburg at EUR 4.20/m² (+5%, H1 2021: EUR 4.00/m²)
- Erfurt at EUR 4.10/m² (+5.1%, H1 2021: EUR 3.90/m²)
- Halle at EUR 4.10/m² (+24.2%, H1 2021: EUR 3.30/m²)
- Göttingen at EUR 3.85/m² (+10%, H1 2021: EUR 3.50/m²)
“The prime rent for existing properties saw double-digit growth in the majority of markets – 18 in all – and increased by more than 20% in no fewer than six markets,” notes Julian Petri, Managing Director of Realogis Immobilien Frankfurt GmbH.
- Augsburg and Karlsruhe with growth of +30% to EUR 6.50/m²
- Regensburg, +29.2% to EUR 6.20/m²
- Ruhr region, +24.4% to EUR 5.10/m²
- Halle, +24.2% to EUR 4.10/m²
- Frankfurt, +21.1% to EUR 6.90/m²
Prime rent falls in just one market
Only one of the 32 markets saw falling rents for existing properties. Dresden recorded a downturn of 8.3% (from EUR 6.00/m² in H1 2021 to EUR 5.50/m²).
Prime rents for existing properties stagnated in three markets: Berlin, Ulm and Zwickau. Meanwhile, prime rents for existing properties increased by less than 10% in ten of the markets surveyed.
Minimum rents: Hamburg ahead of Munich and Stuttgart
The most expensive logistics location for functional existing properties in terms of the absolute minimum rent – the lowest available asking rent for a property in this category – is Hamburg at EUR 6.60/m² (+15.8%, up from EUR 5.70/m²), followed by Munich and Stuttgart at EUR 5.50/m² (Munich: unchanged; Stuttgart: +22.2%; H1 2021: EUR 4.50/m²).
- Third place is taken by Frankfurt at EUR 5.30/m² (+17.8%, up from EUR 4.50/m²)
- Düsseldorf is ranked fourth at EUR 5.10/m² (+15.9%, up from EUR 4.40/m²)
- Cologne takes fifth place at EUR 5.00/m² (+19%, up from EUR 4.20/m²)
- Berlin is in penultimate position at EUR 4.70/m² (+20.5%, up from EUR 3.90/m²)
- As previously, last place is occupied by the Ruhr region at EUR 4.50/m² (+32.4%, up from EUR 3.40/m²)
- This order is the same as in the first half of 2021
- Ingolstadt at EUR 4.95/m² (+23.8%, H1 2021: EUR 4.00/m²)
- Nuremberg at EUR 4.90/m² (+22.5%, H1 2021: EUR 4.00/m²)
- Mainz/Wiesbaden at EUR 4.60/m² (+9.5%, H1 2021: EUR 4.20/m²)
- Augsburg (+28.6%, H1 2021: EUR 3.50/m²) and Regensburg (+15.4%, H1 2021: EUR 3.90/m²) at EUR 4.50/m²
The most affordable locations for renting existing logistics properties are Magdeburg (EUR 3.60/m²), Ulm (EUR 3.50/m²) and Göttingen and Halle (EUR 3.30/m²).
Minimum rents up 16.2% across all 32 markets
“The average minimum rent for functional existing properties across all 32 markets has risen sharply by 16.2%,” says Joel Adam, Managing Director of Realogis Immobilien Stuttgart GmbH. The average increase in minimum rents is a substantial 18% in the top 8 locations and 15.6% in the regional markets.
The minimum rent stagnated at H1 2021 levels in two markets (Munich and Ulm), while a further four regions saw single-digit growth. However, the vast majority of markets – 26 in all – recorded double-digit growth (>10%). 11 markets even saw growth in excess of 20%, including:
- Ruhr region, +32.4% to EUR 4.50/m²
- Halle, +32% to EUR 3.30/m²
- Augsburg, +28.6% to EUR 4.50/m²
- Leipzig, +25% to EUR 4.00/m²
- Ingolstadt, +23.8% to EUR 4.95/m²
REALOGIS press contact:
SH/Communication – Public Relations Agency
Fritz-Vomfelde-Strasse 34, 40547 Düsseldorf
Tel: +49/211/53 88 3-440
REALOGIS company contact:
REALOGIS Holding GmbH
Rundfunkplatz 4, 80335 Munich
Tel: +49/89/51 55 69 17
REALOGIS. No. 1 for industrial and logistics properties
The REALOGIS Group is Germany’s leading player for the consulting and brokering of industrial, logistics and commercial properties. Founded in 2005 as a pioneer for the asset class of logistics and industry, the owner-operated group has enjoyed healthy growth, is crisis-resistant and knows the German market like no other. In 2021 Realogis generated nearly 1,3 million m² of usable space alone in the letting segment. The net commission revenue of all services in the financial year 2021 are EUR 25 million.
In 2021, REALOGIS also won the German Real Estate Prize in the “Commercial Player” category, which honours companies for their outstanding commitment, creativity, innovative strength and sustainability.
Realogis is represented in the country’s seven top logistics locations of Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Leipzig, Munich and Stuttgart, while a dedicated organisational unit ensures transparency in around 15 additional regional logistics markets. 70 real estate professionals advise national and international companies from the fields of logistics, e-commerce, retail and industry as well as private and institutional investors. Quick, flexible, regional, customer-oriented and with a high volume of transactions.
REALOGIS four core competencies are arranging highly creditworthy tenants for new and existing properties, assisting investors with property investments and project development of greenfields and brownfields, outstanding service for locating or selling sites, and the development and implementation of holistic property strategies.
In short, REALOGIS creates more room for its customers’ success in every sense. Further information: https://www.realogis.de/