According to Savills latest research, the European logistics market has started to rebound in Q3 2025.
Take up volumes for the period July to September 2025 reached 7.5 million sq m, an increase of 24% quarter on quarter and 22% year on year.
On an annual basis, the Czech Republic (+120.9%), Romania (85.9%) and Dublin (70.8%) have seen the strongest increase in take-up compared to Q3 2024.
Sam Quellyn-Roberts, director in the EMEA industrial & logistics occupational markets team, says: “From a seasonal perspective, this was a strong result, with European logistics take-up 6% higher than the average Q3 over the last ten years.”
Investment volumes for European logistics between January and September 2025 totalled €27.8 billion, broadly in line with last year. Looking at the five-year pre-pandemic average, the first three quarters of the year averaged €22.9 billion between 2015 and 2019. Whilst investors are selective, total volumes remain ahead of pre-pandemic levels, says the international real estate advisor.
Notably major markets like the Netherlands (86%), Germany (+23%) and Spain (+17%) have all seen growth in investment volumes relative to 2024.
George Coleman, UK & EMEA logistics, Savills, says: “Strategically, investors remain focused on core European logistics markets, with capital concentrating in prime hubs with strong fundamentals and long-term stability given underlying locations and proximity to major infrastructure. Risk appetite has become more selective, with reduced interest in speculative developments or secondary locations. Indeed, a clear preference continues for income-producing assets let to high-quality tenants, in particular, multi-let assets have seen significant depth of demand amongst bidders.”
Andrew Blennerhassett, associate director, UK & EMEA logistics research at Savills, adds: “Looking ahead, there are some positive signs for the further recovery of the European industrial and logistics market as e-commerce penetration across the continent is expected to grow by 7% in 2025. This would bring total penetration to 20.1%, its highest level since the pandemic-era peak in 2021 at 20.9%.”