CONSISTENT DEMAND: TAKE-UP ABOVE LONG-TERM AVERAGE
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Following the strong year-end performance in the final quarter of 2023, the Düsseldorf market for warehouse and logistics space ended the first quarter of 2024 on a positive note. A total take-up of 57,000 m² was recorded, an increase of an impressive 19 % compared to the long-term average. Although the figure from the same period of the previous year (67,000 m²) was missed by 15%, it was the best start to the year ever.
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The demand continues to slightly exceed supply. Even though space in the periphery or properties close to the city centre are the most sought-after locations in Düsseldorf, there is still a lack of suitable space in the entire city area.
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This is also reflected in the development of rents. Prices for logistics premises have risen noticeably in the recent past: the prime rent climbed by almost 10% to 7.90 €/m² in the last 12 months. The average rent shows a similar increase of 11% to 6.50 €/m².
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Publisher and Copyright: BNP Paribas Real Estate GmbH | Prepared by: BNP Paribas Real Estate Consult GmbH | Status: 31.03.2024
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Photo credits: Adobe Stock / festfotodesign; Alexander Nasonov