ImmobilienScout24 and the Institute of the German Economy (IW) in Cologne have jointly developed a new rental price index for industrial land (GIMX). The GIMX will be published twice a year for the twelve most important German industrial sites thereby providing more transparency into the commercial market.
The commercial real estate market has been less transparent than the residential real estate market due to lack of data sources. The new rental price index for industrial land is calculated based on a model developed by the Institute of the German Economy (IW) in Cologne for the commercial space. It leverages the asking rents of office and retail space that are marketed through ImmobilienScout24. This increases the index family of IS24 to another important segment.
The rental prices for office and retail space will cover Berlin, Hamburg, Munich, Cologne, Frankfurt, Dusseldorf, Stuttgart, Dortmund, Dresden, Essen, Bremen and Leipzig and in each case an aggregated index for all Top Cities is (Top 12) also shown.
"Commercial real estate has an important economic significance. They are a major cost factor for companies. Changing prices in this segment can have significant impact on financial stability, "says Prof. Dr. Michael Voigtländer, Head of Section for Real Estate Economics at the IW Cologne. "The available supply of data from ImmobilienScout24 forms the ideal basis to analyse this market segment."
January Hebecker, Head of Research & Analysis at ImmobilienScout24 added: "We are very happy that our index family now has a meaningful rental price index for industrial land as we now fill an important gap in the market transparency. With the IW Cologne as a partner, we have also ensured that the GIMX is calculated according to recognized scientific criteria."