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The logistics sector in Spain continues to draw investors’ attention

By 29 August, 2023Noticias
El sector logístico en España - Urbemar

Despite the market’s slowdown, the logistics sector in Spain continues to draw investors’ attention. The real estate consultancy firm Savills reveals that this interest endures due to the balanced relationship between absorption and supply, low vacancy rates, and rising rents in prime locations.

Antonio Montero, Executive Director Head of Logistics – Savills Spain, underscores that the investment market is gearing up for a strong and stable comeback after years of unprecedented activity. The pillars of the logistics market remain solid, with prospects for medium and long-term improvement fueled by trends generating new demand.

Despite the slowdown in the first half, investment is projected to exceed one billion euros by the end of the year. The increase in “sale & lease back” operations is noteworthy, with 16 transactions in the year’s first half indicating sustained interest.

Sustainability is becoming essential for investors and operators, with over 20% of logistics warehouses in Spain certified. Paula Ordoñez, ESG Solutions & Corporate Sustainability Director at Savills, highlights that sustainability is integrated throughout the value chain.

In Madrid, logistics demand shows resilience, with 450,000 square meters absorbed in 14 operations, and it is expected to exceed 500,000 square meters. Availability hovers around 7%, and over 38% of the new square meters added to the market this year already have lease commitments.

Catalonia records an absorption of approximately 330,000 square meters in 28 operations in the first half, slightly lower than the previous year, although large-volume operations continue steadily.

In summary, the logistics sector in Spain remains attractive to investors due to its solid fundamentals and growth prospects. Sustainability gains more relevance, and Madrid and Catalonia demonstrate resilience in demand, promoting confidence in an adapting and evolving market.