Good things in store for European logistics
The past year has finally seen an upturn in the European economy, and few sectors have enjoyed it more than European logistics. Across Europe, investor turnover in the sector topped €14 billion for the year, higher than any year since 2007, and the first time the sector has topped €10 billion since 2008, according to data from CBRE. And with growth projected to continue (GDP for the EU-28 is forecast to grow by 1.3 percent, according to CBRE) and e-commerce continuing to boom, the recovery may prove to outpace past peaks.
“I think 2014 is going to be more of the same,” says Philip Dunne, president of Prologis Europe. “We should see better value improvement, a faster pace of rent recovery, and a return of meaningful supply in the United Kingdom and some other northern European markets.”