European logistics occupier market proves resilient in H1 2022
The European logistics occupier market has shown good resilience during the first half of 2022, despite a difficult political and economic environment, according to BNP Paribas. Take-up in the 6 leading countries rose by 13 percent to 14.9 million square meters (160.4 million square feet).
Poland and Germany achieved a record volume of transactions at midyear, but other markets, including France, the Netherlands and the United Kingdom, started to show signs of slowdown in the second quarter.
Demand is robust, driven by e-commerce. The strong changes in consumer behavior triggered by the COVID-19 crisis supported on-line shopping supported continued growth of e-commerce in most markets.
“The shortage of new space has an impact on demand. Specifically it affects the choice of building in the between location and availability. The vacancy rate is at its lowest ever, below 4 percent on average in Europe, whilst rising inflation is impacting construction and materi