Germany Warehouse and Logistics MarketView Snapshot Q1 2020
Take up of around 1.33 million sq m was recorded on the German industrial and logistics real estate market in the first quarter of 2020
Although this marks a decline of 15.3 percent year on year, at the same time take up is four percent and 9.3 percent higher than the five and ten year averages respectively for a first quarter
A short term increase in the demand for logistics space leased on a temporary basis has been registered as supermarkets and discounters are experiencing higher volumes of sales and therefore need buffer storage capacity, and the suppliers of closed businesses need to store their goods for the time being.
The most significant demand in the first quarter originated from the retail sector, including e commerce
The start to the year proved to be relatively quiet, above all in the Top 5 markets
Only Hamburg reported a six digit take up of 112,000 sq m
Apart from this, the take up volume has risen sharply especially in the greater logistics region around Hanover by more than 95 percent to 160,000 sq m