"The prime rent for existing functional properties at the upper end of the range has risen by an average of 4.5% across all 33 locations, while the average increase in the top 8 markets is slightly higher at 7.7%," summarises Stefan Imken, Managing Director of Realogis Immobilien Hamburg GmbH. "For the most part, the momentum was higher in the second half of 2023 than in the last six months of the current year. In the first half of 2024, the upper rent range for existing space rose by an average of just 0.8% across all markets."

By way of comparison, the average increase at the upper end of the range for existing properties across all markets was a full 10.3% a year earlier (in H1 2023 compared to H1 2022).

"In a total of seven markets, the increase in prime rents for functional existing properties was in the double-digit percentage range compared to the previous year," adds Joel Adam, Managing Director of Realogis Immobilien Stuttgart GmbH. "In the same period last year, more than half of the markets increased by more than 10 per cent."

"In absolute terms, the most expensive logistics location for functional existing properties in terms of prime rents at the upper end of the range is still Munich at €10/m²," says Nicolas Werner, Managing Director of Realogis Immobilien München GmbH. Coming from €9.00/m², this represents an increase of 11.1% within one year.

As twelve months ago, Hamburg is in second place at €8.75/m² (+2.9%, up from €8.50/m²) and in third place at €8.00/m² is Stuttgart (+2.6%, up from €7.80/m² and in third place) and Berlin (+6.7%, up from €7.50/m² and in fourth place).

With a significant increase in price of +15.4% and a rise of seven places, Augsburg is in fifth place at €7.50/m² (H1 2023: €6.50/m²). Nuremberg is in sixth place at €7.40/m² (+8.8%, up from eighth place at €6.80/m²). It is followed by the top location Frankfurt with €7.20/m² (+1.4 %, coming from €7.10/m² or 5th place) and the regional market Regensburg with €7.10/m² (+6 %, coming from €6.70/m², 10th place). This means that the southern locations of Augsburg, Nuremberg and Regensburg can keep up well with the top 8 markets.

In Düsseldorf, the prime rent for functional existing properties increased significantly by +12.9% compared to the same period last year. With a rent of €7.00/m², Germany's top location for warehouse and logistics properties is currently in ninth place (up from 14th place at €6.20/m²). Düsseldorf shares this rank with the regional market of Ingolstadt, although this already came from a high level at €6.95/m² (H1 2023: price increase of 0.7%, 6th place). The top market of Cologne also saw a double-digit increase in price and ranked 13th at €6.85/m² (+12.3%, up from 15th place at €6.10/m²).

The most favourable top market in terms of the upper value of existing rents is the Ruhr region in 15th place at €6.50/m² (+12.1 %, up from €5.80/m² or 18th place).

Most expensive northern locations outside the top markets: one price decline and two sideways movements
Hanover is in 18th place at €6.30/m² (sideways movement and thus a drop of five places). In 23rd place are Bremen at €5.50/m² (price fall of 8.3%, coming from €6.00/m² and down six places) and Wolfsburg (a sideways movement in terms of price, resulting in a fall of two places).

Most expensive eastern locations outside the top markets: consistent rental growth
At €6.00/m², Leipzig is in 19th place together with Dresden. While Leipzig has an increase in rents of 9.1 %, coming in at €5.50/m² or 21st place (up two places), the increase in Dresden is 15.4 % (coming in at €5.20/m², up six places). Halle follows in 25th place in the analysis of eastern German markets at €5.30/m², which corresponds to an increase in price of 6% (coming from €5.00/m² or 26th place).

The most expensive western market outside the top 8 in the upper rent range for existing properties is Mainz/Wiesbaden in 11th place at €6.90/m² (+1.5 %, up from €6.80/m²; down 3 places).

Cheapest markets below the €5 mark: Osnabrück, Zwickau and Hof
When looking at the lowest rents in relation to the upper end of the range for existing properties among all 33 logistics property markets, Osnabrück, Zwickau and Hof stand out. Osnabrück and Zwickau are on a par below the €5 mark at €4.75/m² and are the second cheapest of all markets. Osnabrück recorded a price decline of 5%, coming in at €5.00/m² (a significant drop of 5 places). Zwickau also fell slightly by -1% from €4.80/m² (down one place). Hof is in last place at €4.70/m², which corresponds to a sideways movement in terms of price and leads to a drop of one place.

Rental price growth ranking: Ulm ahead of Augsburg and Dresden

• Ulm up 18.2% to €6.50/m², coming from €5.50/m² - up 6 ranks
• Augsburg with 15.4% to €7.50/m², coming from €6.50/m² - up 7 ranks
• Dresden with 15.4% to 6.00 €/m², coming from €5.20 /m² - rise by 6 ranks
• Düsseldorf up 12.9% to €7.00/m², coming from €6.20/m² - up 5 ranks
• Cologne up 12.3% to €6.85/m², coming from €6.10/m² - rise of 2 ranks

Stagnation was registered in eight markets: Karlsruhe, Mannheim, Hanover, Würzburg, Wolfsburg, Brunswick, Erfurt and Hof.

The upper value of the rental price range for functional existing properties fell in the markets of Zwickau, Osnabrück, Bremen and Kassel:

• Zwickau with -1.0% to €4.75/m², coming from €4.80/m² - down one rank
• Osnabrück with -5.0% to €4.75/m², coming from €5.00/m² - down 5 places
• Bremen with -8.3% to 5.50 €/m², coming from €6.00 /m² - drop of 6 ranks
• Kassel with -8.8% to 5.20 €/m², coming from €5.70 /m² - down 7 ranks

*The rental prices in the Realogis map of Germany do not show the prices as individual values but as a range in order to represent the markets as realistically as possible.

Press contact REALOGIS:
SH/Communication - Agency for Public Relations
Silke Westermann
Tel: +49/211/53 88 3-440
E-Mail: s.westermann@shcommunication.de

Company contact REALOGIS:
REALOGIS Holding GmbH
Silja Schuppler
Marketing
Leopoldstraße 154, 80804 Munich
Tel: +49/89/51 55 69 17
E-Mail: s.schuppler@realogis.de
www.realogis.de
 

REALOGIS. The No. 1 for industrial and logistics properties

The REALOGIS Group is Germany's leading address for consulting and brokerage services for industrial and logistics properties and commercial land. Founded in 2005, the owner-managed, healthily grown and crisis-proof group of companies knows the German market like no other. In 2022, REALOGIS achieved a turnover of 1.251 million m²  of brokered usable space in the letting segment alone (preliminary result). Net commission income from all services totalled around 22.74 million euros in the 2022 financial year (preliminary result).

In 2021, REALOGIS also won the German Real Estate Award in the "Commercial Player" category, which recognises companies for their special commitment, creativity, innovative strength and sustainability.

The group of companies includes eight branches in Berlin, Düsseldorf, Germany South/North, Frankfurt am Main, Hamburg, Leipzig, Munich and Stuttgart.

The more than 70 REALOGIS property professionals provide advice and support to national and international companies from the logistics, e-commerce, retail and industrial sectors as well as private and institutional investors. Fast, flexible, regional and customer-orientated. The four core competences include finding tenants with strong credit ratings for existing and new properties, supporting investors in property investments and in the project development of greenfield and brownfield sites, providing a perfect service for finding or selling properties and developing and implementing holistic property strategies. This covers the entire property cycle - from location analysis and optimisation of expansion targets to the sale of assets that are no longer required for operations.

In short: REALOGIS offers "More space for your success" in every respect.