• In many places a severe shortage of free existing stock and available land prevented higher take-up. The strong momentum is particularly remarkable considering the slight slowdown that German industry experienced in the past year. Driven by strong domestic demand, retail and e-commerce, had an offsetting effect.
  • The sentiment of German companies has meanwhile picked up again. Accordingly, the demand for warehouse and logistics space is set to remain strong.
  • As some decision processes often take a great deal of time, it is possible that the effect of the weaker economy in 2019 on take-up will only filter through over the course of this year.
  • Rents in general developed at a stable level, with rental growth in the top cities and regions as opposed to build-to-suit developments in particular for which low rents continued to be agreed due to the low yield levels.
  • The momentum on the warehouse and logistics market will be ongoing in 2020. A decisive factor will be whether the economy will continue its recovery, which will also keep the level of demand high. The following will then continue to apply: finding land suitable for logistics and existing free space will act as a constraint.