INCREASE IN TAKE-UP, ONLY MAJOR DEALS ARE MISSING FOR AN ABOVE AVERAGE RESULT
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The Berlin logistics market recorded a slight upward trend in the first half of 2024 and is among the minority of top markets where take-up rose y-o-y.
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With take-up totalling 151,000 sqm, the capital city region ranks third among the most important logistics regions behind Frankfurt (195,000 sqm) and the Ruhr region (192,000 sqm). While the previous year's result was thus exceeded by almost 21%, the long-term average remains out of reach in the current market phase (-37%).
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It is worth noting, however, that the result was achieved without any major deals in the size segment above 12,000 sqm. If only the categories up to this size were included in the analysis, the Berlin logistics market could even report an above-average result. In addition, the take-up achieved in the small and medium-sized segments also represents a remarkable volume across all locations.
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In line with this fact, both the new-build (27%) and the owner-occupier segment (8%) have been underrepresented to date. This is fairly unsurprising as these categories are often responsible for large deals, which are rare at the moment in the lee of the challenges in the project development sector.
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Even though there are signs of stabilization for prime (€8.20 per sqm) and average (€7.20 per sqm) rents in the Berlin market area, they have risen by a further 5% and 10% respectively since mid-2023.