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FEDESSA, JLL Release 2020 Research Findings on European Self-Storage Market
FEDESSA consists of 14 self-storage associations across Europe

October 8, 2020:  The Federation of European Self Storage Associations (FEDESSA) and investment-management firm JLL (Jones Lang LaSalle) have released research findings from a 2020 survey of the European self-storage market.  More than 900 facility operators participated in the survey. The results indicate the industry has remained resilient through the coronavirus pandemic, drawing strong interest from investors. Existing operators in Europe also showed gains in rental rates and occupancy, according to a press release.

This year, there are 4,831 facilities comprising 10.5 million square meters of storage in operation in Europe, an increase of 481 properties from 2019. In the last 12 months, there were more than €250 million in self-storage transactions, which is in line with last year. The top 10 European operators represent 18.2 percent of all facilities in the region and 36.1 percent of available rentable space, according to the source.

In Europe average self-storage rental rate is €250 per square meter per year, with average physical occupancy at 79 percent. In the global period of global pandemic between February to June, the average occupancy increased from 79.2 percent to 79.9 percent.  During the same period, rental rates fell 1 percent.

As per self-storage square footage per capita The United Kingdom continues to lead all European markets, followed by Iceland, The Netherlands, Sweden and Denmark. Several mature markets, including Belgium, France and Germany, are below the European per-capita average, indicating industry potential in those countries, According to JLL analysts.

The survey identified technology and sustainability as key drivers for the European self-storage market. More than one-third (36 percent) of facilities offer 24-hour access, and 76 percent of operators intend to spend more on technology to improve their business, the release stated.

“This has been a turbulent time for the property sector, but it’s a testament to self-storage that it’s remained resilient throughout the uncertainty. In all real estate sectors, we are seeing increased integration of technology and a greater emphasis to an omni-channel customer experience, which the self-storage market is also adapting to. With more than three-quarters of those surveyed admitting that they intended to spend more on technology, we should expect to see the market adapt and to continue growing into the next year. Said by FEDESSA CEO Rennie Schafer.

FEDESSA founded in 2004, consists of 14 self-storage associations across Europe and represents about 1,400 facilities.