TAKE-UP INCREASE COMPARED TO THE PREVIOUS YEAR
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The Berlin logistics market recorded a take-up of 70,000 m² in the first quarter of 2024, which is around 30% below the long-term average (excluding the take-up of Tesla 2022). However, a significant increase of 27% was achieved compared to the same quarter of the previous year.
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The overall relatively weak economic environment is clearly reflected in the take-up in the top logistics markets. Some companies are still considering renting new space at an early stage and entering into contract negotiations for new leases. However, the issue of extending rental agreements appears increasingly important. Particularly in light of the significant rise in rents since the COVID-19 pandemic and the fact that adequate space is often not available at short notice, tenants are increasingly opting to extend their leases, thereby contributing to less fluctuation than in previous years. In addition, more space is currently coming onto the market for subletting and re-letting of space that is not required or is rented in excess.
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Compared to the fourth quarter of 2023, the prime rent increased by 0.20 €/m² to currently 8.20 €/m². The average rent rose slightly by 0.10 €/m² to 7.00 €/m².