Property Times

Demand continues to outstrip supply - Q3 2015

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Despite several geopolitical risks, the outlook remains positive for the European economy even if recovery is slow. Strong demand from developed economies is offsetting the slowdown in emerging markets and industrial production and exports are showing reasonable growth, with CEE countries expected to make the strongest gains over the next five years.

With 10.8 million sq m of industrial and logistics space transacted in the core markets in Europe over the first nine months of 2015, occupier activity has increased by 13% in a year. We expect figures for 2015 as a whole to beat last year’s (16.5 million sq m). Germany witnessed strong activity, with 4.8 million sq m transacted, a 28% increase on a year ago. CEE kept up momentum with 2.8 million sq m let; Poland took centre stage by being the second most active European industrial market (1.8 million sq m let) - surpassing France.

In most European countries, letting activity is dampened by a lack of supply. Demand is strong, marked by the surge of e-retail. Retailers as well as industrial companies are completely reshaping their supply chain in favour of built-to-suit solutions in a market where there is a clear mismatch between demand and supply. Yet developers are still reluctant to launch speculative projects, with the exception of the UK where several projects are underway. 

Source : Cushman & Wakefield

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Mots-clés : Cushman & Wakefield

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