MODERATE START AS A SNAPSHOT, RENTS REMAIN STABLE
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In the first three months of the current year, market momentum in the Ruhr region logistics market has been subdued so far. However, it should be noted that in the fourth quarter of 2023, a significantly above-average volume was achieved due to several very large contracts signed before the end of the year.
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Several large-scale lettings are currently in preparation, although this is not yet reflected in the first interim results. Consequently, the Ruhr region has only achieved take-up of around 45,000 m² at the beginning of the year, which is 61% below the long-term average to date.
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However, the significance of this for the full year is emphasized by the fact that a very good overall result was achieved in 2021 after a comparable start to the year. Especially at the beginning of the year, many companies are still hesitant when it comes to deciding on new space, meaning that the result in the first quarter is often somewhat lower. Nevertheless, the Ruhr region is in line with the nationwide trend with this weaker take-up.
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No significant change in rent level has been registered so far in the first quarter: Accordingly, the prime rent remains at 7.60 €/m², while the average rent currently stands at 6.10 €/m².