European Logistics Leasing Figures Q2 2026

European logistics leasing rebounded sharply in Q2 2026, with take-up reaching its highest level in 14 quarters, 30% above the same period last year. Quarterly net absorption exceeded net completions for the first time since Q3 2022, marking a meaningful inflection point in the cycle.

Completions fell to a new record low in the quarter, while space under construction began to expand moderately. The aggregated vacancy rate recorded its first decline since the supply-led correction began, and prime rents continued to rise across select markets. The convergence of accelerating demand and contracting supply signals the early stages of a more supply-constrained cycle ahead.

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