According to a report by the real estate company Savills summarizing the first quarter of 2023 in the logistics industry - the Spanish logistics market is growing rapidly. It is expected to amount to 1.9 billion euros in 2023. As expected, Madrid and Catalonia, where the largest population concentrations are located, concentrated most of the investments with approximately 70% of the investment volume and more than 50% of the assets. However, it is interesting to see and follow the areas that have given a jump in the last two years in the scope of investments in the cities of Seville, Valencia and Zaragoza located between Barcelona and Madrid.
The Spanish logistics market continues to grow due to a low starting point.
The Spanish logistics market is growing rapidly in 2022, with growth of 6.3% compared to last year. The forecast is that the market will continue to grow in 2023, with a growth of 5%. One of the reasons for the growth capacity of the logistics real estate market in Spain stems from many years in which the authorities did not develop the logistics infrastructure and today the high demand requires them to act and produce solutions for the logistics traffic jam.
The models of the house - investments in logistic real estate in Spain
The growth in the Spanish logistics market is due to several factors, including:
The rise of online commerce
Expansion of factory activity
The increase in the services sector
The increase in tourism
The increase in foreign investments
The logistics real estate market in Madrid
The logistics market in Madrid is the largest in Spain, accounting for about 40% of the total. The market in Madrid grew in 2022 at a faster rate than the overall market by about 7%. Growth in the market in Madrid stems from its logistical location in the center of the country, the growth and economic growth in the private market and tourism as well as an increase in foreign investments.
The logistics real estate market in Catalonia
The logistics market in Catalonia is the second largest in Spain, and it constitutes about 30% of the total market. The market in Catalonia grew in 2022 at a slower rate, with a growth of 5%. The growth The market in Catalonia stems, among other things, from the proximity to the sea and the Mediterranean logistics corridor, the growth of the Catalan economy and tourism and the increase in foreign investments.
The logistics real estate market in Valencia
The logistics market in Valencia is the third largest market in Spain, and it makes up about 20% of the total market. The market in Valencia grew in 2022 at a very fast pace, with a growth of 10%. The growth in the market in Valencia is due to the fact that it is also located on the Mediterranean logistics corridor and its economic growth.
The expectation for the Spanish logistics market in 2023
The Savills company research means that the expectation for the Spanish logistics market in 2023 is a growth of 5%. Growth is expected to be led by continued growth in online commerce, expansion of factory activity and growth in the service sector, despite interest rates and the decline in private consumption.