A temporal shift in the economic cycle compared to Western Europe leads to current and forecast higher growth rates in Southern Europe. Structural reforms are having an impact and strengthening sustainable, long-term positive economic development.

Drivers of the logistics sector are developing in the same way as in Western Europe, but more dynamically as a result of catch-up effects. The resulting real increase in capacity is clearly evident in national rental markets.


Part 1 of the logistics series analyses the logistics real estate market in Europe, which has shown dynamic development over the last few years from a niche product to an institutional asset class. Since 2017 it has become responsible for more than 10% of commercial property transaction volume in Europe.
Taking into account the historically unique economic and in particular monetary policy environment, the market is analysed with regard to its fundamental data.
It shows how the main drivers – globalisation, e-commerce and urbanisation – influence the logistics sector and the resulting demand for space, which is particularly relevant for real estate investors.


This is the third and final paper of Aquila Capitals analysis of the European and particularly the Southern European logistics property market.

In this paper the megatrends digitisation and ecology come into focus as well as upcoming potential especially for the Southern European market.

Sustainability is one of Aquila Capitals main targets. In addition to the implementation of the green logistics strategy, apparent conflicts of interest between tenants and investors are also examined and appropriate solutions are presented.