Netherlands Logistics Market Dynamics, Q4 2024
Summary and analysis of The Netherlands current logistics real estate market conditions.
- Sven Bertens
- Floor Beeren
- Jerrel King
- Evan Henneberry
- Tilly Spierings
Total Dutch logistics take-up volumes reached approx. 2.1 million sq.m. by the end of 2024, comparable to total volumes reached in 2023. Demand has stabilized, but occupiers remain cautious due to ongoing economic uncertainty. The outlook for 2025 is slightly more positive, but economic uncertainty will continue to shape market dynamics in the coming year.
Warehouse vacancy continued to increase incrementally, now standing at 3.3%. The rising vacancy continues to ease supply-demand imbalances in the market, providing conditions for a more sustainable growth trajectory going forward. However, vacancy remains low in traditional logistics hotspots.
Investment activity continued to improve in Q4, with total investment volumes reaching €2.08 billion by the end of 2024 (+81% YoY). This year saw the return of core capital to the market and improved investor confidence. Prime net initial yields are stable at 4.70%.
