Industrial & Logistics, market data - Figures third quarter 2026 Spain

Logistics take-up rises 15% to exceed 2.3 million sqm in the first nine months

Spain’s logistics market remained highly active during the first nine months of 2026, with take-up reaching nearly 2.33 million sqm, up 15% on the same period a year earlier. The third quarter was the most active of the year, with approximately 817,000 sqm taken up.

The Central Area continued to lead national demand, with nearly 962,000 sqm taken up between January and September, up 26.5% year-on-year. Catalonia recorded one of the strongest increases in take-up, reaching 724,000 sqm, up 74.6%. Together, the two regions accounted for more than 70% of national take-up.

Strong demand continues to absorb new supply. In the Central Area, the vacancy rate fell to 8.73%, while in Catalonia it stood at just 2.08%, one of the lowest levels in the market. Vacancy also remains limited in secondary markets, particularly Zaragoza (0.4%) and Bilbao (0.7%).

These market conditions continue to support rents. Prime rent reached €9.50/sqm/month in Catalonia and remained at €7.25/sqm/month in the Central Area. Among regional markets, Bilbao recorded the highest prime rent at €6.75/sqm/month, followed by Valencia and Malaga, both at €5.75/sqm/month.

Investment in the industrial and logistics sector totalled €1,212 million in the first nine months, up 13.7% year-on-year. International capital accounted for 88.3% of total investment, while the prime yield remained stable at 4.85%, supported by strong market fundamentals and sustained investor interest.

This performance underlines the strength of Spain’s logistics sector, supported by record occupier demand, increasingly constrained supply in the main markets and growing investor appetite for quality assets.