Research

European Industrial Market Dynamics, Q4 2024
 

Summary and analysis of Europe’s current industrial real estate market conditions

February 25, 2025
Contributors:
  • Alexandra Tornow
  • Raphaele Naud

JLL’s latest market update highlights an expanding recovery in capital markets while reviewing current headwinds in occupational markets hampering activity. with this copy Summary and analysis of Europe’s current industrial real estate market conditions

Take-up of logistics space improved in Q4 in nearly all markets, pushing the full-year total to 24 million sqm. This was 5% below 2023 but 13% higher compared to the pre-pandemic average, underpinning that activity is returning to more normalized levels.

Rental growth potential by building quality is diverging. Prime rents in markets with lower speculative development continue to grow.

Investment activity showed a notable improvement. A total of € 11 billion was traded in Q4. This brought the total 2024 transaction volume to over € 35 billion, up 23% YoY.

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