© Realogis

In its latest rental price map for logistics properties H2 2020, Realogis has examined the current daily asking rents in 32 logistics real estate markets. In addition to the top 8 locations, these include a total of 24 regional champions (11 in the south, 6 in the east and 7 in the north).

With the rental price map, the leading real estate consultancy for industrial and logistics properties and business parks in Germany with 70 experts aims to provide companies in the retail, e-commerce, commercial and production sectors, institutional and private investors and local authorities with guidance for their decisions.

Top 8: Rental prices for new-build properties
The most expensive top 8 location in terms of new-build logistics rents at the upper end of the rental price range is Munich (€7.95/m²), followed by Berlin (€7.50/m²) and Stuttgart (€6.95/m²). The order thus remains unchanged compared to 2019. The top 8 logistics markets of Frankfurt (€6.75/m²) and Hamburg (€6.20/m²) are in the midfield. The cheapest markets are Düsseldorf (€5.95/m²), Cologne (€5.85/m²) and the Ruhr region (€5.25/m²).

Munich recorded the strongest growth in prime rents in new-build properties at the top end at just under 10% (from €7.25/m² in H2 2019 to €7.95/m² in H2 2020). In second place is the Ruhr region with +8.2% (from €4.85/m² in 2019 to €5.25/m²) and in third place is Berlin with +7.1% (from €7.00/m² in 2019 to €7.50/m² in 2020). Six locations with rising prices were also recorded at the lower end of the rental price range for new-build properties. The most expensive location in terms of the minimum rent for new-build logistics properties is still Munich (€6.45/m²), followed by Stuttgart (€6.30/m²) and Hamburg (€6.00/m²). The Ruhr region (€4.40/m²) and Berlin (€4.10/m²) bring up the rear.

Top 8: Rental prices for functional existing properties
The highest existing logistics rents in 2020 were paid in Berlin (€7.50/m²), followed by Munich and Hamburg (both €6.50/m²). Stuttgart (€6.30/m²), Frankfurt (€5.70/m²) and Düsseldorf (€4.95/m²) form the midfield. Cologne (€4.70/m²) and the Ruhr region (€3.95/m²) are at the lower end.

Only four of the eight markets recorded an increase in prime rents for functional existing properties. Existing properties in Berlin saw the most significant price increase of 25% (from €6.00/m² to €7.50/m²). In contrast, Hamburg recorded by far the most significant increase in the minimum rent for functional existing properties at +22.2 % (minimum rent rising from € 4.50/m² in 2019 to € 5.50/m²).

Regional markets: Rental prices for new logistics properties
In terms of prime rents for new logistics properties, Nuremberg is in first place at €6.80/m² (unchanged from the previous year; both value and ranking), followed by Karlsruhe and Ingolstadt at €6.50/m² and Mainz/Wiesbaden at €6.00/m².

When looking at price increases, Ulm stands out, where prime rents in new-build properties have risen the most significantly by +22.2 % (from € 4.50/m² in 2019 to € 5.50/m² in 2020). Regensburg was the only city to see a decline: by -5.5 % from € 5.50/m² in 2019 to € 5.20/m² in 2020. Karlsruhe has the highest minimum rent for new-build properties (€ 5.50/m²), followed by Mainz/Wiesbaden (€ 5.20/m²) and Heilbronn (€ 5.00/m²); the cheapest southern markets are Würzburg and Regensburg (€ 4.30/m²).

Regional markets: Rental prices for functional stock
The most expensive regional locations in terms of prime rents for functional existing properties are Ingolstadt Nuremberg and Dresden at €6.00/m² and Hanover at €5.35/m², while the cheapest are Göttingen at €3.50/m² and Halle at €3.30/m².

In terms of increases in prime rents for functional existing properties compared to the same period last year, Augsburg, Kassel and Braunschweig recorded the highest increases: Augsburg with +25 % (coming from € 4.00/m² in 2019 to € 5.00/m² in 2020), Kassel with +17.1 % (coming from € 4.10/m² in 2019 to € 4.80/m² in 2020) and Braunschweig with +11.7 % (coming from € 3.85/m² in 2019 to € 4.30/m²).

The locations with the highest minimum rent for functional stock are Mainz/Wiesbaden: €4.20/m² (+7.7 % compared to €3.90/m² in the previous year), Mannheim, Dresden, Ingolstadt, Nuremberg and Wolfsburg with €4.00/m² each (all unchanged from the previous year). The cheapest existing properties are in Magdeburg and Göttingen at €3.00/m² each and Halle at €2.50/m² (also unchanged from the previous year). The most significant increase in minimum rents for functional existing space was in Braunschweig (+10 % from € 3.00/m² in 2019 to € 3.30/m² in 2020). In contrast, the minimum rent for existing properties in Hanover was the only one to fall by 7.9%, from €3.80/m² in 2019 to €3.50/m² in 2020.