ABOVE AVERAGE RESULT DUE TO STRONG SECOND HALF OF 2024
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The warehouse and logistics market Düsseldorf recorded take-up of 318,000 sqm in 2024. As a result, the volume was around 8% higher than in the previous year and 12% above the long-term average. The second half of the year played a key role in the good result. After a weak first half year, the market revived significantly in the third quarter (98,000 sqm) and gained further momentum in the final quarter (128,000 sqm).
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The weakening economy and the more uncertain economic outlook are currently dampening take-up of logistics space across Germany. However, the demand situation on the Düsseldorf market is comparatively solid and increased noticeably towards the end of the year. Nevertheless, it is also evident on the Düsseldorf market that letting processes are more time-consuming and some spaces are currently available on the market for subletting, although most of these are absorbed at short notice.
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The significant increase in demand, which has recently been clearly reflected in excess demand, and higher costs have led to a sharp rise in rent levels. At the end of the fourth quarter, the prime rent stood at €8.50 per sqm, around +8% above the prior-year figure. The average rent has increased by +10% to currently €6.80 per sqm. This is by far the highest rent growth among the top locations.