When comparing the highest retail rents in Europe, Germany is among the top 15 with seven German cities. This was determined by the real estate company Jones Lang LaSalle SE (JLL). With top monthly rents of EUR 1,625 per square meter in Paris and EUR 1,444 in London, these two capitals are far ahead of all the others, but Munich is already in third place with EUR 340 per square meter. The Italian cities of Milan (333 euros) and Rome (300 euros) are in fourth and fifth place.
Other German cities in the top 15 rental ranking are Berlin (EUR 290), Frankfurt (EUR 280), Düsseldorf (EUR 275), Hamburg (EUR 265), Stuttgart (EUR 250) and Cologne (EUR 230). In these cities, retail rents are similar to those in some of the much larger European capitals, such as Athens (EUR 280), Madrid (EUR 249) and Amsterdam (EUR 217). Josefine Ulrich, Director Retail Tenant Representation Germany: “The German retail metropolises have had to accept slight corrections in prime rents during the corona pandemic – for example, Munich, the front runner, reduced the long-standing mark from 360 euros to 340 euros – but in a European comparison they are definitely in the closest group of pursuers behind Paris and London.”
The capital cities of Oslo, Istanbul, Prague and Brussels, as well as the fashion city of Antwerp, are not among the top 15, but are growing steadily. Luxury brands also have their sights set on locations such as Zurich’s Bahnhofstrasse, Geneva’s Rue du Rhône, Dublin’s Grafton Street and Bibloteksgatan in Stockholm, adds Josefine Ulrich.