TAKE-UP BELOW PREVIOUS YEAR'S RESULT
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The German logistics market achieved take-up of around 5.3 million sqm in 2024. This result is almost 16% below the previous year's level and 24% below the ten-year average. After a very subdued start to the year, demand improved, which led to an increase in take-up in the following quarters and constant take-up over the course of the year.
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In particular, the ongoing difficult economic environment combined with only very moderate GDP forecasts for Germany indicate that the necessary impetus for comparably high warehouse and logistics take-up as in previous years is currently missing. It is especially the large-scale contracts of over 20,000 sqm that have not been concluded on a similar scale to prior years.
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Take-up on the top logistics markets (Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne, Leipzig and Munich) totaled 1.95 million sqm and was therefore only 6.1% lower than the previous year (-24% compared to the 10-year average). Of these, Düsseldorf (318,000 sqm; +8.2%) and Cologne (257,000 sqm; +60.6%) are the only markets that were able to increase their results year-on-year and are also well above the ten-year average at +12% and +16% respectively.
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However, the highest take-up was recorded in Frankfurt (408,000 sqm; -7.3%). Berlin (275,000 sqm; -21.4%), Hamburg (260,000 sqm, -4.4%) and Cologne ranked behind Düsseldorf which took second place. Leipzig achieved 221,000 sqm (-31.6%) and Munich 211,000 sqm (-11.3%). In addition, the Ruhr region ended the year with take-up of 358,000 sqm (-27.8 %).