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Germany MarketBeat

Ursula-Beate Neisser • 5/3/2020
Cushman & Wakefield MarketBeat reports analyse quarterly Germany commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.

Office

At 129,700 sqm, Berlin take-up in the first quarter was 37% lower than an average first quarter of the previous five years. This was caused by the lack of space in existing stock, the now very high rent levels, the slowdown of the economy since the second half of 2019 and the fact that many large space requirements have already been met in recent years. On a y-o-y basis, the prime rent rose by 14.3% and the average rent by 19.7%. In no other German city do companies pay as much rent on average for new office leases as in Berlin.

Retail

 In Q1 2020, supermarkets, drugstores and food discounters were the major segments to open new shops or sign new leases. Some lettings to fashion retailers, as well as restaurant, snack bar and coffee shop operators also took place. 
With the shutdown of gastronomy and shops in mid-March, most non-food retailers and restaurants paused their searches. Only retailers of essential goods were allowed to continue operation.
 

Industrial

Demand for warehouses and distribution space remained at a high level, mainly driven by demand from retailers and e-commerce-distribution, whereas requirements from manufacturing and 3PLs declined in mid-March when it became obvious that, among other segments, the car industry would be hit hard by the Covid-19 pandemic.  In Q1 new leasings and construction starts for owner occupation reached 1.24 million sqm and thus almost the same level as the equivalent quarter in 2019.


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Current Marketbeats

Office
Germany Office Data

Office Marketbeat is a summary of the Berlin office property sector providing comment on recent trends as well as market data and analysis.

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shop Nuremberg, Germany
Germany Retail Data

Retail Marketbeat is a summary of the Germany retail property sector providing comment on recent trends as well as market data and analysis.

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