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Frankfurt office lettings market continues its weak performance in Q2 2023

  • Total space take-up of 174,100 sqm in the first half of the year is below comparable mid- and long-term average figures
  • Group comprising banks, financial service providers and insurance companies still accounts for the highest take-up volume
  • Users focus on central locations and sustainable properties
  • Vacancy rate increases to 8.9 % while total vacancies exceed 1 million sqm
  • Rental prices keep on rising: average rent reaches €24.90 €/sqm; prime rent remains at €46.00/sqm
  • 2023: take-up impacted by the challenging economic environment and changing needs for office space; larger lease signings expected in the second half of the year; sustainable space remains of growing importance

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Logistics property market in the Rhine-Main area again registers below-average take-up for Q2 2023

  • Q2 take-up of 84,900 sqm is higher on a sequential basis, but well below the long-term average
  • Space take-up in the first half of 2023 falls to ten-year low of 147,000 sqm  
  • Low market activity in new project developments
  • Big deals see significant fall in take-up, but demand is highest for spaces larger than 10,000 sqm
  • Warehouse and logistics service providers are the most active users in the first half, followed by retailers
  • Sub-markets in south and east account for highest take-up shares
  • Outlook: difficult market environment, but demand for space continues to exceed supply; new projects are additionally hampered by high construction and financing costs; further rental increases are likely

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In Q1 2023 the German residential portfolio transaction market falls to its lowest level since 2014

  • Transaction volume reaches only €2bn in the first quarter of 2023 owing to subdued market activity and an absence of mega-deals
  • Trading in project developments weakens after previous record results
  • Asset Managers & Funds Managers are now the strongest buyers as well as the second most active sellers after Project Developers & Contractors
  • German investors remain dominant on the buy-side despite a decline of over 50 %
  • Outlook for 2023: Uncertain market environment and cautious attitude among investors makes it more difficult to provide forecasts; the price negotiation phase is still ongoing, and the expected transaction volume will be lower than in previous years as a result

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Frankfurt office lettings market makes weak start to 2023

  • Space take-up of 82,800 sqm in Q1 2023 is around 13 % below comparable medium- and long-term figures
  • Banks, financial service providers and insurance companies generate highest share of take-up
  • Banking district is most popular sub-market
  • Vacancy rate increases to 7.9 %
  • Rental prices remain on an upward trend: prime rent at €46.00/sqm, average rent increases to €24.70/sqm
  • 2023: challenging economic outlook, yet searches for large offices and the need for sustainable space will determine the next few quarters

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Residential portfolio market in Germany: Annual transaction volume falls to lowest level since 2015 with €13.2bn in 2022

  • Wait-and-see attitude among market participants and a decline in mega deals cause drop in transaction volume
  • Below average sales in fourth quarter of €2.9bn
  • Project developments maintain high market share and account for 42.6 % of transactions
  • “Open-Ended Funds / Special Funds” remain most active buyers
  • German investors continue to dominate the market despite a noticeable decline
  • Forecasting for 2023 remains difficult, especially because the gap between seller expectations and buyer budgets is still too wide; ESG compliance is of mounting importance; new buildings remain in demand, but are associated with high building and financing costs, whereby attention is shifting to properties with development potential

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Weak fourth quarter results in below-average take-up on Frankfurt office lettings market

  • Space take-up of 381,600 sqm in 2022 is well below comparative medium- and long-term average results
  • Banks, financial service providers and insurers account for a quarter of take-up and play dominant role
  • Banking district accounts for highest share of market activity
  • Vacancy rate broadly stable at 7.5 %
  • Rents are on an upward trend: Prime rent stable at €46.00/sqm while average rent increases to €23.90/sqm
  • 2023: Outlook is moderately optimistic owing to the recent improvement in economic forecasts; ecological sustainability is of growing importance; decreasing space requirements owing to hybrid working models

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Justin Krone named Principal Consultant Investment at NAI apollo

Frankfurt am Main, 5 May 2022 – On 1 May 2022, Justin Krone became Principal Consultant Investment at NAI apollo. Most recently, Krone worked as an Associate at Eastdil Secured. Holding Bachelor's degrees in Political Science and Law, he completed his Master's studies in real estate business with an international focus at Oxford Brookes University.

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NAI apollo: warehouse and logistics property market in Rhine-Main region off to a slow start in 2020

  • Space-take-up of 91,000 square metres is 34 percent below level of the previous year
  • Lack of space remains problematic; economic downturn puts brakes on market activities at beginning of year
  • Market activity characterised by large-scale leasing
  • All segments experiencing declines in take-up; large space segment remains strongest
  • Retail companies with largest take-up share
  • Forecast 2020: specific consequences of COVID-19 crisis difficult to predict; however, negative impact presumably less severe compared to other commercial real estate groups

 

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NAI apollo: Blitz Spedition leases 2,000 square metres of warehouse and office space in Münster near Dieburg

Frankfurt am Main, 8 April 2020 – Blitz Spedition has leased 2,000 square metres of warehouse and office space and around 6,000 square metres of outdoor storage space in Breitefeld 13, 64389 Münster (near Dieburg) from a private owner. The forwarding company will use the new area for expansion in the medium term. The plot, formerly a large joinery, is now fully let. NAI apollo provided support to the both the lessee and the lessor during the transaction.

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NAI apollo expands investment and asset management

Frankfurt am Main, 3 March 2020 – NAI apollo is expanding its activities as an operating partner in investment and asset management for national and international investors. In apollo real estate management GmbH, the Group structures investments for national and international family offices, high-net-worth individuals and institutional investors. NAI apollo also provides its customers with comprehensive asset management services during the management phase. To do this, Guido Spahn (50) has now joined the Group as Head of Asset Management. At the same time, Andreas Wende has taken over from Andreas Krone as Managing Partner of apollo real estate management GmbH.

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