European logistics market rebounds in Q3 2025

The European logistics market is showing strong signs of recovery in the third quarter of 2025, according to Savills' latest research. 

Logistics - Savills

Between July and September 2025, take-up volumes hit 7.5 mln m2, marking a significant 24% increase from the previous quarter and a 22% rise year-on-year.
The Czech Republic, Romania, and Dublin experienced the most substantial annual growth in take-up compared to Q3 2024, with increases of 120.9%, 85.9%, and 70.8% respectively.
Investment in European logistics reached €27.8 bn from January to September 2025, consistent with the previous year. This figure surpasses the pre-pandemic five-year average for the same period (2015-2019), which was €22.9 bn, indicating sustained investor interest despite a more selective approach. 
Major markets such as the Netherlands (+86%), Germany (+23%), and Spain (+17%) all saw increased investment volumes compared to 2024.
Sam Quellyn-Roberts, director in the EMEA industrial & logistics occupational markets team, said: “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.”
George Coleman, UK & EMEA logistics, Savills, commented: “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, added: “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%.”