发布时间：2008.4

摘要

Introduction

Increasing amounts of equity based capital will target the European warehousing and industrial real estate markets and going forward equity and low leverage buyers will dominate the market. This report analyses the European warehousing market, providing a detailed overview of the market conditions, and Datamonitor's country-wise 2008 outlook for the industry and the economy.

Scope

• Gain an insight into the role of the logistics and distribution industry in driving the demand for warehousing and industrial property.

• Analyses the impact of GDP growth, unemployment, manufacturing growth and consumer spending on each country's industrial property market performance.

• The current situation and future outlook for the European warehousing and industrial real estate market with top level economic and property data.

Report Highlights

The European industrial real estate market saw limited levels of growth in 2007, with supply and demand in most countries being more balanced than in previous years. Overall rental growth in Europe was just 2.5% Central and Eastern Europe once again reverted to out performance, with rental growth of 7% compared to just 1.3% in Western Europe.

As credit squeeze slowly impacts the EU market, the more mature locations may slow further in the second half of 2008. However, there will be an increasing number of opportunities for occupiers from both the manufacturing and logistics sectors to discover lower cost locations, and this trend will generate rental growth in most locations in 2008.

In the CEE region though the pipeline is large, there is sustained demand and proportionally less good-quality space available. Demand for space in regional cities is also increasing. Manufacturers will continue moving their operations to lower cost locations in the foreseeable future, thus ensuring a steadily growing demand for logistics property.

Reasons to Purchase

• Gain an analytical insight into 20 country markets across Europe, and assess both the current situation and the 2008 outlook for industrial property.

• Provides access to the crucial industrial rents review and 2008 outlook for over 90 locations across Europe.

目录及图表

Overview	1
Catalyst	1
Summary	1
Executive Summary	2
Table of Contents	3
Table of figures	4
CHAPTER 1 THE EUROPEAN WAREHOUSING MARKET - LOTS IN STORE FOR THE FUTURE	5
1.1 Demand	9
1.2 Supply	11
1.3 Rents	12
1.4 Investment	13
1.5 Country Market Review	15
CHAPTER 2 KEY MARKET PROFILES	17
2.1 WAREHOUSING MARKET IN GERMANY	17
2.1.1 Market Overview	17
2.1.2 Warehousing Demand and Supply	17
2.1.3 Freight Villages	19
2.1.4 Market Outlook	20
2.2 WAREHOUSING MARKET IN THE UK	21
2.2.1 Market Overview	21
2.2.2 Warehousing Demand and Supply	22
2.2.3 Economic Outlook	23
2.2.4 Industrial Property Outlook	23
2.3 WAREHOUSING MARKET IN FRANCE	25
2.3.1 Market Overview	25
2.3.2 Warehousing Demand and Supply	26
2.4 WAREHOUSING MARKET IN SPAIN	29
2.4.1 Market Overview	30
2.4.2 Logistics Property Market	31
2.4.3 Warehousing Supply	32
2.4.1 Warehousing Demand	33
2.4.1 Market Outlook	33
2.5 WAREHOUSING MARKET IN POLAND	34
2.5.1 Market Overview	34
2.5.2 Warehousing Demand and Supply	35
2.5.3 Key Trends	36
2.5.4 Market Outlook	37
CHAPTER 3 COUNTRY MARKET REVIEW	38
3.1 AUSTRIA	38
2006 Review	38
2007 Review	38
Outlook for the Economy	38
Outlook for the Industrial Property Market	39
3.2 BELGIUM	40
2006 Review	40
2007 Review	40
Outlook for the Economy	40
Outlook for the Industrial Property Market	41
3.3 BULGARIA	42
2006 Review	42
2007 Review	42
Outlook for the Economy	42
Outlook for the Industrial Property Market	42
3.4 CZECH REPUBLIC	44
2006 Review	44
2007 Review	44
Outlook for the Economy	44
Outlook for the Industrial Property Market	45
3.5 DENMARK	46
2006 Review	46
2007 Review	46
Outlook for the Economy	46
Outlook for the Industrial Property Market	47
3.6 FINLAND	48
2006 Review	48
2007 Review	48
Outlook for the Economy	48
Outlook for the Industrial Property Market	49
3.7 GREECE	50
2006 Review	50
2007 Review	50
Outlook for the Economy	50
Outlook for the Industrial Property Market	51
3.8 HUNGARY	52
2006 Review	52
2007 Review	52
Outlook for the Economy	52
Outlook for the Industrial Property Market	53
3.9 IRELAND	54
2006 Review	54
2007 Review	54
Outlook for the Economy	54
Outlook for the Industrial Property Market	55
3.10 ITALY	56
2006 Review	56
2007 Review	56
Outlook for the Economy	56
Outlook for the Industrial Property Market	57
3.11 NETHERLANDS	58
2006 Review	58
2007 Review	58
Outlook for the Economy	58
Outlook for the Industrial Property Market	58
3.12 PORTUGAL	60
2006 Review	60
2007 Review	60
Outlook for the Economy	60
Outlook for the Industrial Property Market	60
3.13 ROMANIA	62
2006 Review	62
2007 Review	62
Outlook for the Economy	62
Outlook for the Industrial Property Market	63
3.14 RUSSIA	64
2006 Review	64
2007 Review	64
Outlook for the Economy	64
Outlook for the Industrial Property Market	65
3.15 SLOVAKIA	66
2006 Review	66
2007 Review	66
Outlook for the Economy	66
Outlook for the Industrial Property Market	67
3.16 SWEDEN	68
2006 Review	68
2007 Review	68
Outlook for the Economy	68
Outlook for the Industrial Property Market	69
3.17 SWITZERLAND	70
2006 Review	70
2007 Review	70
Outlook for the Economy	70
Outlook for the Industrial Property Market	71
CHAPTER 4 EUROPEAN INDUSTRIAL PROPERTY MARKET OUTLOOK	72
List of Tables
Table 1: Europe: Industrial Rents Review and Outlook by Location (€/sqm/yr)	15
Table 2: Germany: Logistics Market - Regional Space turnover (in m²), 2006 - 2007	17
Table 3: Germany: Logistics Spaces 2007	18
Table 4: Germany: Annual Takeup (Sq meters), 2006 & Q1-Q3 2007	20
Table 5: France: Prime Logistics Yields as at September 2007	25
Table 6: France: Prime Logistics Rents as of September 2007	26
Table 7: Spain: Prime Industrial Rents, December 2007	31
Table 8: Spain: Prime Industrial Yields, December 07	32
Table 9: Europe Outlook: Economy Performance Vs Industrial Property Performance, 2008	72
List of Figures
Figure 1: European Industrial Rental Growth Rate Per Annum (%), 2003-2007	5
Figure 2: EU-15 Industrial Yields Index, 1997-2005	6
Figure 3: EU-15 Industrial Rental Index (March 1988=100), 1992-2006	7
Figure 4: Top 10 European Industrial Markets by Take-up in 2007	9
Figure 5: Total Warehouse Space (Million Square Meters), 2006-2010	11
Figure 6: European Logistics Investment Market (€ Billion), 2000-2006	13
Figure 7: Germany: Freight Villages	19
Figure 8: The United Kingdom: Income Return (Yield) and Capital Growth of Warehouse/Distribution Properties, 1991-2005	21
Figure 9: France: Geographic Breakdown of Take-up (%), 2007 (Till October)	27
Figure 10: France: Breakdown of Take-up (000 Square Meters), 2000-Q3 2007	28
Figure 11: Spain: Main Logistic Areas	29
Figure 12: Spain: Industrial Investment Volume (€ Millions), 2001 - Q2 2007	30
Figure 13: Poland: Take-up by Regional Market (%), 2007	34
Figure 14: Poland: Warehousing Supply by Regional Markets (Sqm), 2007	35