Tuesday, 21 July 2026
Average rents for logistics properties across Germany remained largely stable during the first half of 2026, although several of the country’s largest logistics markets continued to record moderate rental growth, according to the latest analysis from REALOGIS.
The consultancy examined rental trends for new-build and existing industrial and logistics space across 33 German markets, covering both completed lease transactions and landlord asking rents for big-box properties of at least 10,000 sqm.
Across all 33 markets, prime rents for new-build logistics space remained unchanged year-on-year at an average of €7.58 per sqm per month. In Germany’s eight largest logistics markets—Berlin, Hamburg, Munich, Frankfurt, Cologne, Düsseldorf, the Ruhr region and Stuttgart—average prime rents increased by 2.1% to €9.19 per sqm.
“The figures confirm that the market remains fundamentally stable, while the gap between high-quality space in established locations and average properties continues to widen,” said Christian Beran, Managing Director Germany at REALOGIS. “Rental growth is currently concentrated in locations where high-quality space and limited availability coincide.”
Eight of the 33 markets recorded higher prime rents for new-build properties, while rents remained unchanged in 15 markets and declined in ten. Dresden posted the strongest annual increase of 9.1%, whereas Hanover recorded the largest decline of 10%.
Munich remained Germany’s most expensive logistics market, with prime rents for new developments reaching €14.00 per sqm, an increase of 3.7% compared with the first half of 2025. Hamburg followed at €9.50 per sqm after a 5.6% increase, matching Augsburg, where prime rents remained unchanged.
Average minimum rents for new-build space increased only marginally to €6.40 per sqm. Within the eight largest logistics markets, minimum rents rose by 1.8% to €7.36 per sqm. Hamburg recorded the strongest increase at 13.4%, while Leipzig and Erfurt experienced the largest declines.
The widest spread between minimum and prime rents for new developments was recorded in Munich, where minimum rents remained at €9.50 per sqm while prime rents increased to €14.00 per sqm.
The existing property segment also recorded moderate rental growth. Average prime rents increased by 1.1% to €6.64 per sqm across the 33 markets, while the eight largest logistics markets posted a stronger increase of 3.2% to €8.08 per sqm.
Munich again recorded the strongest annual growth among existing properties, with prime rents rising by 14.3% to €12.00 per sqm. Hamburg followed with a 5.1% increase to €9.25 per sqm, while Augsburg recorded a 6.3% rise to €8.50 per sqm.
Minimum rents for existing logistics space increased by 0.8% nationwide to an average of €5.21 per sqm, while the top eight markets recorded growth of 2.6% to €6.29 per sqm. Hamburg saw the largest increase at 13.6%, whereas Magdeburg experienced the steepest decline.
Munich also recorded the widest rental range in the existing property segment. Prime rents increased to €12.00 per sqm, while minimum rents rose to €8.00 per sqm, reflecting continued demand for well-located, high-quality logistics space in Germany’s most expensive market.
According to REALOGIS, rental growth during the first half of 2026 remained concentrated in selected prime locations where supply continues to be constrained, while most regional markets experienced stable pricing with only limited movement.
