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Spain had the second-highest increase in logistics investment in Europe

Real estate investment in the European logistics market stood at 22,500 million euro in the first half of 2021, i.e. 60% more than the average of the first half of the year in the last five years.

The data, published in the latest report on the logistics sector in Europe by Savills Aguirre Newman also indicates that, by country, the greatest increase compared to the average of the last five years took place in Ireland (1008%), followed by Spain ( 212%) and the United Kingdom (115%).

In the first half of the year, the capital invested in logistics real estate assets has accounted for 20% of total real estate investment in Europe; the historical share stands at around 10%. According to Savills' analysis of new capital raised by investment funds this year, 39% has been allocated to the logistics sector, accounting for more than any other tertiary segment.

According to the international real estate consultancy, logistics absorption in Europe has reached 18.7 million square meters, i.e. 63% more than the average of the first semester of the last five years. The countries with the greatest increase in absorption have been Germany, Poland, and the Netherlands, with figures that exceed those obtained in the same period of the last five years.

In terms of availability, the available surface has decreased 80 points in the last 12 months and the vacancy rate stands at 4.6%. Increased demand in Spain and shortages in Denmark and the Czech Republic have contributed to this situation. The most outstanding markets with the smallest available logistics area are Barcelona with 3.3%, Oslo with 3.8%, and Helsinki with 4.3% availability. The shortage of available logistics space has caused an average rise of 2% in prime rents in the last 12 months in Europe. However, according to the international real estate consultancy, rents are expected to continue to rise due to the shortage of supply.

The real estate consultancy indicates that the record in absorption and rental operations in Europe would be equivalent to the result of the growth of five years, but comprised in 18 months. This situation is due to the expansion of e-commerce, which accelerated its growth due to the pandemic.

The principles of sustainability are beginning to have an impact on the trends in the characteristics of logistics warehouses, both in the increase in sustainability certifications of buildings and in the needs of logistics to save emissions.



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