RECOVERY ON THE LOGISTICS INVESTMENT MARKET
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The logistics investment market has continued to recover in the second quarter of the year. In consequence, a transaction volume of around €2.8 billion was registered for H1 2024 and the previous year's result was exceeded by almost 84%. Although the current half year result is still below the long-term average, the delta has shrunk to just -16%. The logistics investment market is therefore much more resilient than the other major asset classes, where the deviation from the long-term average still ranges from -26% (retail) to -75% (office). In the ranking of investment volume by asset class, the investment volume of the logistics segment is currently in second place, behind retail (€3.7 billion) and well ahead of the office segment (€2.2 billion).
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While the market share of portfolios declined gradually over the past two years, with only a few large transactions being recorded, this trend appears to have reversed. At €1.25 billion, portfolio transactions now account for around 44% of the market share at the end of the first half of the year. The largest transaction of the year to date also contributed to this: the acquisition of 12 properties by P3 Logistics Parks for more than €300 million.
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Meanwhile, prime yields have stabilized since the beginning of the year. The net prime yields in Germany’s A logistics locations remain unchanged at 4.25%. A sideways movement has also been recorded in Leipzig. As before, 4.45% can be set there.