Göttingen and Halle are Germany’s most affordable logistics locations
In addition to rents for new logistics properties, Realogis – the leading property consulting company for industrial and logistics properties and business parks in Germany with 70 experts – has also examined the actual rents offered by lessors for existing properties in 32 markets, updated daily.
The most expensive logistics location for existing properties in the first half of 2021 was Berlin at EUR 7.50/sq m, followed by Hamburg (EUR 6.90/sq m), Stuttgart (EUR 6.50/sq m) and Munich (EUR 6.50/sq m). Ranked by prime rent for existing properties, the other top locations appear in eighth place (Frankfurt at EUR 5.70/sq m), 12th place (Düsseldorf at EUR 5.10/sq m), 19th place (Cologne at EUR 4.70/sq m) and 27th place (Ruhr region at EUR 4.10/sq m).
Regional markets such as Nuremberg (at EUR 6.00/sq m) and Ingolstadt and Dresden (both EUR 6.00/sq m) are in the top third, as well as Hanover (EUR 5.35/sq m) and Wolfsburg (EUR 5.20/sq m).
The most affordable locations in terms of prime rents for existing properties are Göttingen at EUR 3.50/sq m (31st place) and Halle at EUR 3.30/sq m (32nd place).
The biggest price increases in the past 12 months (H1 21-H1 20) were recorded in:
1 Augsburg: +25 per cent to EUR 5.00/sq m, from EUR 4.00/sq m
2 Berlin: +15.4 per cent to EUR 7.50/sq m, from EUR 6.50/sq m
3 Mannheim: +11.1 per cent to EUR 5.00/sq m, from EUR 4.50/sq m
4 Mainz/Wiesbaden: +8.3 per cent to EUR 5.20/sq m, from EUR 4.80/sq m
Prime rents for existing properties increased moderately in these top locations:
1 Hamburg (+6.2 per cent to EUR 6.90/sq m, from EUR 6.50/sq m)
2 Ruhr region (+3.8 per cent to EUR 4.10/sq m, from EUR 3.95/sq m)
3 Frankfurt (+3.6 per cent to EUR 5.70/sq m, from EUR 5.50/sq m)
4 Stuttgart (+3.2 per cent to EUR 6.50/sq m, from EUR 6.30/sq m)
5 Düsseldorf (+3.0 per cent to EUR 5.10/sq m, from EUR 4.95/sq m)
6 Munich and Cologne remained unchanged at EUR 6.50/sq m and EUR 4.70/sq m
The highest increases in eastern Germany were recorded in Zwickau (+7.1 per cent to EUR 4.50/sq m, from EUR 4.20/sq m) and Halle (+6.5 per cent to EUR 3.30/sq m, from EUR 3.10/sq m). The highest increase in the north of the country was recorded by Wolfsburg (+4 per cent to EUR 5.20/sq m, from EUR 5.00/sq m).
The only decrease in prime rents for existing properties was to be seen in Bremen, where the prime rent for existing properties (upper end of the range) fell by 6.3 per cent from EUR 4.80/sq m to EUR 4.50/sq m.
The most expensive logistics locations for existing properties in terms of the minimum rent (lower end of the range) chiefly comprise six of the eight top locations in Germany:
1 Hamburg (EUR 5.70/sq m)
2 Munich (EUR 5.50/sq m)
3 Frankfurt (EUR 4.50/sq m)
4 Stuttgart (also EUR 4.50/sq m)
5 Düsseldorf (EUR 4.40/sq m)
6 Cologne (EUR 4.20/sq m)
Berlin follows in 13th place at EUR 3.90/sq m and the Ruhr region in 25th place at EUR 3.40/sq m.
The most expensive location outside the top 8 is Mainz/Wiesbaden in seventh place at EUR 4.20/sq m, followed by Mannheim (EUR 4.00/sq m, 8th place) and Wolfsburg (also EUR 4.00/sq m). The most expensive location in eastern Germany is Dresden, also at EUR 4.00/sq m and in 12th place.
The locations at the back of the pack are Göttingen (EUR 3.00/sq m) and Halle (EUR 2.50/sq m).
The biggest increase in the minimum rent for existing properties was recorded in Berlin, where the minimum amount to be paid for logistics rents rose by 9.9 per cent year-on-year from EUR 3.55/sq m to EUR 3.90/sq m. Then comes Zwickau, where the minimum rent for existing properties rose by 9.4 per cent to EUR 3.50/sq m (after EUR 3.20/sq m) and Mainz/Wiesbaden with an increase of 7.7 per cent (to EUR 4.20/sq m after EUR 3.90/sq m).
By contrast, the minimum rent for existing properties in the top 8 (not including Berlin) hardly moved. Only in Hamburg did it increase by a slight 3.6 per cent to EUR 5.70/sq m after EUR 5.50/sq m. Meanwhile, Munich, Frankfurt, Stuttgart, Düsseldorf, Cologne and the Ruhr region posted no change year-on-year. The only price decrease was posted by Hanover, which was down 7.9 per cent at EUR 3.50/sq m after EUR 3.80/sq m.
The biggest gap between the minimum rent and the prime rent for existing properties was recorded by Berlin at EUR 3.60/sq m, followed by Stuttgart, Nuremberg and Ingolstadt (all at EUR 2.00/sq m). The minimum rent and the prime rent were closest in Cologne and Göttingen (both at 50 cents).