There were 601 megawatts of take-up across the 14 largest markets in Europe in 2023, according to CBRE.
In contrast, 561 megawatts of new supply was delivered in the same period, marking the second time in five years that take-up exceeded new supply in Europe. Both take-up and supply increased when compared to the previous year. In 2022, there was 546 megawatts of take-up and 550 megawatts of new supply delivered in Europe, representing increases in 2023 of 10 percent and 2 percent, respectively.
Take-up in the leading markets — Frankfurt, London, Amsterdam, Paris and Dublin — led to the imbalance across Europe in 2023. In fourth quarter 2023 alone, take-up soared to 252 megawatts, a 41 percent increase when compared to the previous quarter (179 megawatts). This was largely due to pre-let capacity that was delivered in Dublin, London and Paris.
Demand has grown for capacity despite the difficulties data center providers are having sourcing power and availabl