REALOGIS rental price map: The prime rents for functional logistics properties in Germany

Munich, 28 February 2024 – Munich remains the most-expensive location in absolute terms for functional logistics properties* in terms of prime rents (top end of the range). Prime rents there exceeded the double-digit figure of EUR 10/m² for the first time at the end of 2023. Coming from EUR 9.00/m² at the end of 2022, this is an increase of 11.1% year-on-year.

Hamburg is in second place at EUR 8.75/m² (2022: EUR 8.30/m²; price increase of +5.4%) and Stuttgart is in third place at EUR 8.00/m² (2022: EUR 7.80/m²; price increase of +2.6%).

“Munich, Hamburg, and Stuttgart were able to defend their leading positions in terms of the upper end of the rental price range for existing properties compared to the same period last year,” noted Jörg Lojewski, Managing Director of Realogis Immobilien Hamburg GmbH.

Berlin ranks fourth among the other five top locations in Germany with EUR 7.90/m² (2022: EUR 7.80/m²; +1.3%), Frankfurt ranks sixth with EUR 7.20/m² (2022: EUR 6.90/m²; +4.3%) and Düsseldorf ranks tenth with EUR 6.85/m² (2022: EUR 6.00/m²; +14.2%). Cologne (2022: EUR 5.90/m²; +12.7%) and the Ruhr region (2022: EUR 5.40/m²; 20.4%) are slightly behind at EUR 6.65/m² and EUR 6.50/m², respectively, which corresponds to 14th and 15th place.

These findings were from the latest analysis by Realogis – Germany’s leading property consultancy for industrial and logistics properties and business parks. The Realogis Group has evaluated Germany’s 33 leading logistics markets and analysed the development of prime rents for existing properties at the upper end of the range versus the end of 2022. All results can be viewed on the REALOGIS rental price map.

All Realogis figures are based on actual up-to-date rents offered by owners – and not on an evaluation of online adverts. The Realogis rental price map thus reflects the actual circumstances to ensure the greatest possible transparency for all stakeholders – retailers, manufacturers and their service providers, as well as banks and institutional investors.

Regional markets rise in the rankings
“The most expensive locations outside the top eight are the regional markets of Augsburg, Nuremberg, Mainz/Wiesbaden and Karlsruhe,” said Christian Beran, Managing Director of Realogis Immobilien Deutschland GmbH.

Augsburg even made it into the top five of all 33 markets for the first time. At EUR 7.50/m², the rent rose by 15.4% within twelve months. Coming from EUR 6.50/m², Augsburg climbed four notches to ninth place.

Nuremberg remains in seventh place at EUR 7.00/m² (2022: EUR 6.65/m²; +5.3%). At EUR 6.90/m² (2022: EUR 5.90/m²; +16.9%, +5 notches), Mainz/Wiesbaden shares eighth place with Karlsruhe (2022: EUR 6.50/m²; +6.2%).

The most-expensive northern logistics locations are Hanover, Wolfsburg and Bremen:

• 16th place is held by Hanover with EUR 6.30/m² (2022: EUR 5.50/m²; +14.5%)
• 23rd place goes to Wolfsburg at EUR 5.50/m² (a sideways movement in terms of price, resulting in a drop of seven notches)
• The Bremen market is also in 23rd place, which, unlike Wolfsburg, dropped only two places (2022: EUR 5.30/m²; +3.8%)

• Dresden is in 19th place together with Leipzig at EUR 6.00/m². For Dresden, this represents an increase in price of 15.4%, coming from EUR 5.20/m². The market thus climbed four notches to 23rd place. In Leipzig, the price increase is even higher at 20%; coming from EUR 5.00/m² or 25th place, this is a significant rise of six notches
• Halle is in 25th place with EUR 5.30/m² (+15.2% coming from EUR 4.60/m²; up five notches)

• Osnabrück with EUR 4.75/m² coming from EUR 5.00/m² (-5%)
• Zwickau is also at EUR 4.75/m², up from EUR 4.70/m² (1.1%)
• Hof with EUR 4.70/m² coming from EUR 4.50/m² (+4.4%)