Germany: First half of 2017 sees 12% decline in rented logistics property27.09.2017 Germany: First half of 2017 sees 12% decline in rented logistics property
Deutsche Verkehrs-Zeitung, 27 Sep 2017, online:-
According to Jones Lang LaSalle (JLL), around 3.04mn square metres of logistics property were rented in the first six months of 2017, which is 12% less than in 2016 but 2% more than the average since 2012. In the five largest German cities for logistics companies - Berlin, Düsseldorf, Frankfurt, Hamburg and Munich - there was a 6% decline in rented logistics space to 933,000 square metres. In the rest of Germany there was a 15% decline in rented logistics space to 2.1mn square metres. The average rental price for logistics property in Munich was EUR 6.75 (USD 8.07) per square metre, in Frankfurt it was EUR 6 per square metre, in Hamburg it was EUR 5.8 per square metre, in Düsseldorf it was EUR 5.4 per square metre and in Berlin it was EUR 5 per square metre. Availability of logistics property in Germany could become an issue in the future. In Berlin, Düsseldorf, Frankfurt, Hamburg and Munich only 41,000 square metres in total of logistics space was vacant after the first six months of 2017. In the first half of 2017, 1.9mn square metres of new logistics property were constructed, which was a 54% decline over the first six months of 2016. Since 2010 investments in logistics property in Germany have nearly quintupled. In 2016, EUR 4.6bn was invested in logistics property and in 2017 the investment amount is expected to be EUR 5bn.
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