The REALOGIS Group, Germany’s leading consulting firm for industrial and logistics real estate as well as commercial properties, has analysed the rental price development for new and existing space in 33 German industrial and logistics markets. The results show a moderate but broad-based rent increase for 2025. In the top 8 markets defined by REALOGIS in Berlin, Hamburg, Munich, Frankfurt am Main, Cologne, Düsseldorf, the Ruhr area and Stuttgart, both simple and high-quality space was in high demand. Accordingly, minimum and prime rents rose in parallel, without any significant change in the price gaps. The market structure of the leading locations thus remained stable.
Christian Beran, Managing Director of Region Germany, puts it in perspective: “The rental price development in 2025 showed a robust and balanced logistics real estate market. In many regions, rents rose moderately, without the price gaps between simple and high-quality spaces widening significantly. The top 8 markets in particular benefited from broad-based demand, which stabilised the existing market structure.”
New construction: Moderate rent growth with stable price structure
- On average for all markets considered, the prime rent for new-build space in 2025 was €7.59/m² (2024: €7.45/m²). The upward trend thus continued with an increase of 2.0%. In the top 8 markets, the increase was slightly stronger at 2.4%.
- Prime rents rose in 16 markets, remained at the previous year’s level in ten markets, while seven markets recorded declining values. The largest increase was recorded in Dresden (+25.0%) and the most significant decrease in Leipzig (-7.7%).
- The cheapest prime rents for new buildings were measured in Leipzig (€6.00/m²), Halle (€5.75/m²) and in Zwickau, Hof and Magdeburg (€5.50/m² each). At the upper end of the scale are Munich (€13.50/m²), Augsburg (€9.50/m²) and Stuttgart (€9.00/m²).
Minimum rents in new buildings
- The average minimum rent for new-build space rose to €6.44/m² (+2.2%) in 2025. In the top 8 markets, it was €7.36/m², which corresponds to a moderate increase of 1.4%.
- While 15 markets recorded gains and 13 markets remained at the previous year’s level, five markets declined. Dresden recorded the largest increase (+16.7%), while Leipzig and Nuremberg recorded the most significant decreases with -3.8% each.
- The largest price range in the new-build segment was again seen in Munich. The prime rent here rose to €13.50/m² (+3.8%) and the minimum rent to €9.50/m² (+5.6%). At €4.00/m², the spread remained unchanged compared to the previous year. This underlines the consistently high demand for standard and high-quality new-build space.
Portfolio: Rising rents with a focus on attractively priced space
- The increase in rents also continued in the existing segment. The average prime rent was €6.58/m² (2024: €6.45/m²), an increase of 1.7%. In the top 8 markets, it rose by 2.5% to €7.95/m².
- While only two markets recorded declines, rents stagnated in 19 markets and rose in 12 markets. The increase was particularly marked in Dresden (+12.1%).
- In the existing segment, Munich remains the most expensive market. The prime rent rose to €11.00/m² (+10.0%) and the minimum rent to €8.00/m² (+14.3%). The price range of €3.00/m² remained unchanged.
- The average minimum rent in the portfolio rose by 2.6% to €5.28/m². In the top 8 markets, it was €6.39/m², also up 2.6%.
