Industrial & Logistics market data - Figures first quarter 2024 Spain

In the first three months of the year, more than 217,000 square metres were delivered, most of them (92%) in Spain. Logistics take-up in the Central Area, meanwhile, exceeded 210,000 square metres, which represents a decrease of 26% compared to the same period in 2023. The historical comparison, however, shows that this figure is well above average, as well as reflecting a net contracting of 70%, demonstrating the strength of demand in the sector.

The Catalan logistics market has experienced a significant decline. More than 96,000 square metres have been contracted, with 74% of net take-up. Although this figure is 55% lower than in the first quarter of 2023, a total of thirteen deals were closed, in line with the average for other periods. The combination of the entry of speculative product in 2023 and a significant reduction in absorption has led to a slight increase in availability, which stands at 5.70%. The third ring is where 62% of vacant space is concentrated, with a vacancy ratio of 14%, mainly from projects delivered in 2023.


During the first quarter of 2024, the volume of investment in the Spanish industrial and logistics sector reached 167 million euros, which represents a decrease of 43% compared to the same period of the previous year. Despite the slowdown observed in 2023 and the beginning of 2024, the logistics sector has good fundamentals in terms of market occupancy and the activity reflected in this first part anticipates a better performance throughout this year.