Newly developed space and expiring leases are opening up additional opportunities for tenants in Berlin’s logistics lettings market. Demand is also picking up, though it remains below the levels seen during the boom years. After nine months, take-up is below the previous year’s level, as fewer large-scale deals were concluded.
The few large-scale deals are predominantly attributable to Asian tenants. There continue to be significant differences in market conditions between the city centre and the surrounding areas. Whilst space remains scarce in the city centre and longer lease terms are the norm, the surrounding areas continue to show higher vacancy rates.
In the investment market, ongoing uncertainties are keeping transaction volumes low. However, portfolio transactions involving properties in Berlin remain in demand.
