Portugal among the most attractive European markets for expanding logistics operations
Portugal is one of the most desirable European markets for the expansion of logistics operations, concludes an analysis by property consultancy Savills.
The Covid-19 pandemic has reconfigured warehousing needs and boosted e-commerce, two factors that have led to the strengthening of the European logistics sector. And Portugal is on the list of the five European countries that manage to attract the most investment to the logistics sector, behind France, Germany, Spain and Italy.
In recent months, the logistics sector has seen good results, notably due to the reconfiguration of storage needs caused by lockdowns and the consequent growth of e-commerce, which has forced a redefinition of storage needs and capacities. But operators consider that the obstacles raised by the measures to combat the pandemic and the uncertainties about the future condition consumers’ willingness to make expenditures, an impact strongly felt by retailers, particularly those with a smaller online presence.
With the reconfiguration of logistics behaviour patterns, Savills foresees the reshoring of some operations. 68% of operators will adopt more cautious stances, and will seek to reduce their exposure to the risk of the pandemic, such as disruptions in maritime transport and rising fuel prices, an approach that may also be seen in the refocusing of many investors’ attention on more core capital markets, such as France, Germany or the United Kingdom.
On the other hand, operators will look to increase their storage capacity to accommodate demand growth through online platforms. But the scarcity of assets is the biggest obstacle to the growth of the logistics sector in Europe.
Thus, 95% of operators estimate that they will need more or the same storage space over the next 3 years. 47% plan to expand their storage capacity, including 3PL operators, retailers and manufacturing. According to Savills, 36% of occupiers will expand their logistics facilities by more than 40,000 square metres, and 44% between 10,000 and 40,000 square metres. And Portugal tops the list of preferences for 24% of logistics operators planning to increase their storage capacity in Europe.
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