HARDLY ANY MAJOR DEALS, BUT DYNAMIC IN THE SMALL-SPACE SEGMENT
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The Leipzig logistics market recorded take-up of 88,000 sqm in the first half of the year. This corresponds to a decrease of 52% compared to the same period of the previous year and, at -34%, also deviates significantly from the ten-year average. After a good start to the year with an above-average result, the second quarter mainly saw smaller deals, meaning that there were no further drivers of take-up. At 62%, the majority of the result were also attributable to owner-occupiers.
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In H1, take-up in almost all other major logistics locations and also across the entire German logistics market was below the long-term average. Due to the persistently weak economic development, many companies are noticeably more cautious when it comes to renting new space, particularly in the large-scale segment, and tend to extend existing rental agreements where possible.
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While Leipzig's supply within the city boundaries is still too low and, due to a lack of suitable development plots, consists mainly of existing space that is becoming vacant, the supply in the peripheral area is growing due to the progress of construction and the completion of project developments that have not yet been let.
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Following the significant increase in 2022 and 2023, rents stabilised in the first half of the year 2024 and are thus following the nationwide trend of largely moving sideways. Accordingly, the prime rent remains at €5.90 per sqm, while the average rent is €5 per sqm.