TAKE-UP BELOW PREVIOUS YEAR'S LEVEL DUE TO LACK OF MAJOR CONTRACTS
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The Berlin warehouse and logistics market ended 2024 with take-up of 275,000 sqm, which is around 21% below the previous year's level. The difficult economic conditions were reflected primarily in the large warehouse segment over 20,000 sqm, where no contracts were signed over the course of the year. The two largest contracts of the year were registered in the fourth quarter with Movus in Werder (16,000 sqm) and Best4Tires in Bernau (15,000 sqm).
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While take-up also declined on a nationwide basis compared to the previous year (-16%), this result nevertheless puts Berlin in third place among the major logistics locations. Frankfurt leads the ranking with 408,000 sqm, ahead of Düsseldorf, where take-up has risen to 318,000 sqm and, contrary to the nationwide trend, has also exceeded the 10-year average.
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On the supply side, there is currently more space available for short-term letting than in previous years due to completed new-build properties and a slightly larger supply of existing properties. Companies are still more hesitant in their decisions regarding new space and, due to the noticeable increase in rents, are more likely to extend existing leases than to relocate to new space.
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The rent level has risen again slightly over the twelve-month period. At the beginning of the year, the prime rent rose to €8.20 per sqm (+2.5%) and the average rent to €7.20 per sqm (+4.3%) - both have stabilised since then.