LOGISTICS REAL ESTATE MARKET BOTH LEASING- AND INVESTMENT VOLUMES SHRINK SUBSTANTIALLY OCCUPIER MARKET: TAKE-UP PLUMMETS TAKE-UP 2023 2.1 MILLION M² Take-up suffered greatly from lack of supply and dropped to the level of 2016. 4,5 3,5 4 SUPPLY IN NEW HOTSPOTS GOES UP As traditional hotspots overrun, investors seek development opportunities in other promising locations, such as Flevoland, Zeeland and Groningen. Some of these developments take longer to let. 2,5 3 1.5 2 0,5 1 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 new developments existing buildings Lack of availability of both buildings and land, combined with decelerating demand, pushed the market down 42%. Both existing buildings and newbuild projects were impacted. Take-up by building type (in million m2 ) LEASE PRICES KEEP RISING SUPPLY: LARGE INCREASE OF SPECULATIVE AVAILABILITY Rent levels experienced another upward push in 2023 and now seem to be nearing a new balance. The trend to build speculatively, in traditional as well as new hotspots, pushed new-build supply up 64% (EoY 2023). Supply (in million m²) and supply/stock ratio - year-end 3,5 HIGH SHARE OF INVESTMENTS FOR OWN PORTFOLIO As total investments went down 52%, investors who develop for their own portfolio – build-to-suit or speculative – stood out with 600,000 m² of developments. 2,5 3 1,5 2 0,5 1 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 new developments existing buildings ratio 0% 2% 4% 6% 8% 10% 12% 14% 40 - Logistiekvastgoed 2024
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