With the GewerbeBarometer , bulwiengesa and ImmoScout24 are publishing a joint analysis of the German commercial real estate market for the first time. The continuous market and transaction data from bulwiengesa is combined with the supply and demand data from millions of advertisements from ImmoScout24.
The result is a consistent overall picture: the market does not show a uniform
development, but is increasingly differentiated according to location, quality and
Use.
Selective stabilization with increasing polarization
In the retail trade, there is a differentiated development. The prime rents in
1A locations in the A cities are stable at around €250/sqm, while the
Differences between top locations and other locations are further exacerbated.
The data from ImmoScout24 underline this development: While the
demand in the Class A cities has increased slightly since 2022 (+6 index points),
in the rest of Germany (index value 79). At the same time, the
Supply of retail space grew by around 33%.
Oliver Rohr, Head of Consulting at bulwiengesa, explains: “We see a lot of
retail trade is not a nationwide recovery, but a clear concentration
to the strongest inner-city locations. The classic 1A locations hold their own
while many secondary sites remain structurally under pressure and others
usage concepts.”
The city centre is getting smaller – but stronger
The development in the retail sector shows a clear structural shift:
classic 1A location shrinks and focuses on a few highly frequented
Streets with strong brands and concepts. Prime rents stabilise
at a high level there, while adjustments continue to be made in B and secondary locations
take place.
At the same time, the use of the space is changing fundamentally: classic
Retail concepts are increasingly being developed by gastronomy, leisure facilities and
services. Larger areas in particular are losing
attractiveness, while smaller, flexibly usable units with efficient
floor plans.
The result: city centres are losing sales space, but are gaining in profile –
and are evolving from pure shopping locations to multifunctional
Experience spaces.
