Of all the major continents Africa has by far the fastest growing, young population. Almost 70% of the total population are under 30yrs old vs the global average of 50%; in Europe the under 30’s represent just over 30% of the population.

2020 was a tough year for everyone and all sectors, however, for those involved in the Industrial & Logistics property sector, it was marginally more successful. We have noted record levels of development and leasing activity in many markets, and there are high expectations that 2021 could follow the same pattern. In addition, despite the limited available product for sale in many markets, we have also recorded significantly increased investor appetite for the sector, as well as record volumes.

EMEA's 2020 Industrial & Logistics take-up was up +22.6% y/y, fuelled by increasing logistics demand from servicing online retail growth. Despite some localised record volumes, supply-demand imbalances continue to hinder take-up. Latent demand will continue to drive take-up until significant supply filters through.

Demand fell considerably in 2020, with take-up volumes down -38% y/y, but some significant transactions completed towards the end of 2020 driving a 16% growth in Q4 take-up (q/q). With cooling demand and the completion of several new schemes across markets, EMEA’s average (weighted) vacancy rose to 6.8% by year-end, from 5.5% a year earlier.