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LOGISTICS REAL ESTATE MARKET TAKE-UP GOES DOWN - SUPPLY INCREASES - INVESTMENT MARKET STABLE OCCUPIER MARKET: TAKE-UP DECREASES As risk-awareness on occupiers’ side increased, the market cooled off and take-up went down. Take-up of existing buildings rose by an impressive 60%, but this was not enough to offset the sharp decline in the new-build segment. TAKE-UP 2025: 2.41 MILLION M² Geopolitical instability and shortage of plots in prime locations led to a 9.2% decrease. This concerned mainly new-build. SUPPLY INCREASES FURTHER Supply increased 29%. The supply-to-stock ratio now stands at 9.4%. SUPPLY: HIGH INCREASE IN EXISTING BUILDINGS Total supply increased to 5.36 million m² (2025 year-end). Supply of existing buildings grew fastest (39%), as tenants consolidated and sharpened their quality demands. Approx. 2/3 of supply was vacant, with new-build (i.e. delivered and not yet leased) steadily increasing, especially at non-prime locations. LEASE PRICES REMAIN STABLE Lease price levels have not changed much, but there are differences per region and per building type. Incentives are increasing in older buildings and non-prime locations. INVESTMENT MARKET STABLE Total investment volume was roughly the same as in 2024 at € 2.43 billion. Buyers are more selective.

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