Industrial & Logistics, Market Data - Figures Fourth Quarter 2024 Spain

During 2024, more than one million square meters have been contracted, which represents an increase of 10% compared to 2023. In the fourth quarter, more than 340,000 square metres of logistics space were absorbed, registering an increase of 59% compared to the same quarter of the previous year. Forecasts for 2025 point to a stability of demand on average over the last 5 years.

The vacancy rate has continued to rise, largely thanks to the volume of deliveries of assets built at risk in recent months. More than one million square meters were delivered throughout the year, an all-time record for deliveries, of which 57% were available. More than 730,000 square meters are currently under construction, reflecting a 9% reduction in the pipeline under construction compared to the previous year. This will facilitate the stability of availability levels for next year.

Investment in the logistics sector has reached 1,400 million euros, which represents an increase of 21% compared to 2023, aligning itself with the historical average of the last decade. The adjustment in interest rates has facilitated the reactivation of the sector, evidenced by the launch of new products on the market, as a result of the imminent rotation of capital between owners and investors. This points to positive forecasts for the year 2025.

The middle market segment maintains an active dynamic with operations of less than 20 million that add up to more than 370 million, thus representing 26% of the total volume invested. The growing interest on the part of European investors in the logistics sector positions this asset as the second asset class, with 27% according to the results of the Investor Intentions Survey 2025; This dynamic is supported by the release of larger portfolios to the market, which will facilitate greater dynamism within the market.