Logistics Quarterly Report Q1 2024

The Dutch logistics occupier market experienced a positive shift in Q1, showing signs of recovery after four consecutive quarters of declining leasing volumes. The market saw a notable increase in deals, with leasing volumes reaching approximately 520,000 square meters, marking a 32% growth compared to the previous quarter. While the first-quarter results look promising, occupiers remain cautious due to slow economic growth forecasts and persistent geopolitical uncertainty. Despite the improvement, leasing volumes are still down by 28% compared to the same period last year.

The steady demand from third-party logistics providers (3PLs) played a significant role in driving the take-up activity in the logistics market, accounting for over 60% of leasing volumes in Q1. Additionally, the manufacturing sector held a considerable share of approximately 20%. It is expected that these sectors will continue to drive demand in the logistics occupier market throughout the year.

Overall, the recent positive performance in Q1 indicates a potential recovery in the logistics sector. However, ongoing economic and geopolitical uncertainties may impact occupier sentiment and leasing volumes moving forward.