SIGNIFICANT INCREASE IN TAKE-UP, RENTS STABLE AT A HIGH LEVEL
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Despite the continuing slow economic development and the overall challenging conditions, the Munich logistics market is registering a significant increase in take-up from quarter to quarter. After a very weak start to the year with only 18,000 m², take-up almost doubled in the second and third quarters (Q2: 34,000 m² and Q3: 63,000 m²). Accordingly, the result at the end of September was 115,000 m².
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However, the increasing momentum is not enough to bring the market back up to average levels for the time being. The previous year's result was undercut by 48% and the 10-year average of 197,000 m² remains a long way off (-42%).
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Market activity in the Munich region continues to be dominated by a clear discrepancy between supply and demand. There is a noticeable surplus in demand, particularly in the 5,000 to 10,000 m² segment. In general, many requests, particularly for modern space, can still not be met.
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In view of the continuing shortage of supply and even rising demand for modern, particularly ESG-compliant space, the high rent level in the Munich market has stabilised. The prime rent remains unchanged at €10.50 per m². After three stable quarters in a row, the average rent has recently risen by €0.10 per m² to €8.80 per m².