The industrial and logistics property market in Munich showed stability in the first half of 2026. An analysis by the property services provider CBRE documented a take-up of 52,500 square metres. This result surpassed the previous year's period by 15 percent. The prime rent for logistics properties rose by approximately four percent compared to the previous year, reaching EUR 11.20 per square metre. Simultaneously, the big-box segment continued to record a vacancy rate of zero percent.
Maximilian Sänger, Team Leader Industrial & Logistics Munich at CBRE, confirmed the market's stable condition and solid leasing performance. He noted a slight revival in market activity. At the same time, more existing space is entering the market. However, this is not due to extensive new construction but rather to the expiration of existing leases or the consolidation of company sites.
Changes in Supply and Demand Behaviour
The increased supply modifies the market structure without resolving the fundamental shortage of high-quality logistics space. Many properties are now offered with a lead time of nine to twelve months. This leads to an expanded selection for users, which now includes modern new builds alongside well-positioned existing properties. Demand continues to be characterised by caution. The focus is less on expansion and more on space optimisation or site consolidation.
Despite this, there remains interest from international companies as well as from future-oriented sectors such as high-tech, life sciences, and the defence sector. Munich's high attractiveness as a business location continues to encourage project developers to speculatively implement or prepare new logistics projects. While speculative developments are rarely realised in many other markets due to low demand, Munich stands out as an exception with its diversified economic structure. These circumstances contribute to the continued rise in prime rents, with the scarcity of land and brownfield sites in the Munich market area forming a fundamental prerequisite.
Outlook for the Full Year 2026
According to Sänger, several large-scale lettings are in advanced negotiations for the second half of 2026. Therefore, a take-up at the previous year's level is considered realistic. The combination of stable demand, a slightly expanded selection of available space, and the persistently high attractiveness of the location is expected to continue to shape the market in the coming months.
- —Take-up: 52,500 sqm in H1 2026
- —Increase compared to previous year: 15 percent
- —Prime rent: EUR 11.20/sqm (plus 4 percent)
- —Vacancy (Big-Box): 0 percent
