March 12, 2025
Europe’s self-storage market continues its upward trajectory, propelled by urbanization, housing shortages, and the evolving needs of businesses adapting to space constraints. As demand surges, the sector is emerging as a key player in the region’s real estate landscape, attracting both consumers and investors alike. With over 13,000 facilities across the continent, the sector is helping to alleviate space constraints while attracting increasing investor interest. Despite this expansion, supply remains limited, creating significant opportunities for growth.
The UK leads the region with 0.19 square meters per capita, well ahead of mainland Europe. Yet, demand continues to rise, and with growing consumer awareness, the UK still holds substantial room for further expansion.
In mainland Europe, Germany, France, and Spain represent the largest self-storage markets, collectively accounting for 52% of the region’s inventory. However, these markets remain severely undersupplied, making them key targets for institutional investment. Meanwhile, new supply is expanding in emerging markets like the Netherlands and Norway, where supply per capita already exceeds that of the three largest markets, reflecting shifting investor focus toward high-growth opportunities.
With demand outpacing supply, Europe’s self-storage market is set for continued expansion, led by Germany (8.4%) and the UK (5.2%) in new supply growth. Despite rising costs and economic uncertainties, including potential U.S. tariffs, the sector remains one of Europe’s most resilient and attractive alternative real estate assets. Backed by increasing institutional investments, strong consumer demand, and strategic acquisitions, the self-storage sector continues to demonstrate steady growth and long-term stability.
*New supply data is based on published squared footage for projects under development and StorTrack’s estimates for projects where square footage information is unavailable.
UNITED KINGDOM
The UK self-storage continues its expansion, with prices up 3.4% YoY, driven by high housing costs, small living spaces, and e-commerce growth. While over 60% of the market comprises single operators, larger operators are entering as they recognize strong investment potential. For example, the planned sale of Access Self Storage (60 locations) has drawn bids from Aermont Capital, TPG Incl, and Shurgard, reflecting rising institutional interest. Operators are also scaling to meet demand. Storage Giant Ltd. is adding 11 new locations in North Wals and North West England, while Cuboid is expanding into traditional self-storage. As more prominent players grow their footprint and institutional capital flows in, the UK remains one of Europe’s most competitive and investible self-storage markets.
GERMANY
Germany’s self-storage market is also expanding, fueled by urbanization, rising incomes, small business expansion, and increasing public awareness. Supply is growing as companies like Sirius Real Estate, a leading owner/operator of business parks in the UK and Germany, integrates self-storage into its growth strategies, developing new facilities in Berlin and repurposing existing sites to meet demand. Despite rising competition, rates have increased over 10% in the past year, underscoring strong market fundamentals.
FRANCE
France’s self-storage market is expanding, with key urban centers like Paris, Lyon, and Marseille seeing rate increases from 1.4% (Marseille) to over 9% (Paris), despite new supply entering the market. However, with over 20,000 square meters of development in the pipeline, additional inventory could start to put pressure on pricing. Meanwhile, institutional investment is accelerating, as larger players like PGIM Real Estate and Pithos Capital expand their footprint, securing six assets with a strong acquisition pipeline. With rising investor interest and significant market potential, self-storage in France is becoming a key alternative asset for those seeking portfolio diversification.
SPAIN
Price trends in Spain have been mixed, with urban demand in Madrid and Barcelona driving growth, while seasonal tourism fluctuation and rising supply have caused localized price softness in some areas. Urbanization, smaller living spaces, and housing affordability challenges continue to fuel demand, particularly in Madrid and Barcelona, where flexible storage solutions are increasingly needed.
NETHERLANDS
Despite new supply entering the market, rates increased by an average 1%, reflecting steady demand. As one of Europe’s fastest growing self-storage markets, the Netherlands has seen 11 new facilities open in the past year, and is expected to receive over 20,000 square meters of new development over the next 12 months. The market is currently divided between large operators and single-location owners, each holding just over 40% of total supply. However, this balance is shifting as larger players expand their presence, especially in urban areas. Like other major European markets, urbanization, e-commerce growth, and space constraints continue to drive demand.
NORWAY
Norway self-storage market is rapidly evolving, driven by high urbanization, rising housing costs, and a robust economy that supports strong purchasing power. With large operators controlling 70% of the market, facilities are heavily concentrated in major cities like Oslo and Fredrikstad, where space constraints and steady consumer demand continue to drive market growth.
BELGIUM
Belgium’s self-storage market remains stable, with prices holding steady over the past year. While nearly half the market consists of smaller independent operators, limited new supply has sustained price stability. However, if development accelerates, competitive pressures could impact pricing dynamics.
POLAND
Poland remains one of Europe’s most underpenetrated self-storage markets, drawing increasing investor interest as large operators expand their presence. With growing urbanization and rising consumer awareness, demand is accelerating, prompting at least 11 new development projects that will add over 19,000 square meters of new supply.
While price movements vary across markets, supply growth, urbanization trends, and macroeconomic factors continue to influence pricing dynamics. Despite headwinds from inflation and interest rate uncertainty, demand fundamentals remain strong in core and emerging markets alike.
Investor confidence in European self-storage remains strong, with major acquisitions and expansion efforts accelerating across both mature and high-growth markets. Despite macroeconomic uncertainties, institutional investors continue targeting underpenetrated regions, betting on long-term demand fundamentals and the sector’s resilience as an alternative real estate asset.
Western and Southern Europe are seeing a surge in investment, with Safestore expanding into Italy through a joint venture with Nuveen Real Estate, acquiring Easybox, the country’s second-largest operator. In Sweden, Heitman’s majority stake acquisition in Servistore highlights the market’s significant growth potential amid limited supply (0.07 SQM per capita). Meanwhile, Poland, Belgium, and the Netherlands continue to attract new developments and institutional capital, cementing their status as key growth markets.
While rising construction costs and regulatory hurdles in cities like London and Paris pose challenges, investors are adapting by expanding into underserved markets, developing specialty storage solutions, and improving operational efficiencies. Market consolidation, automation, and strategic asset development will shape the next phase of European self-storage growth.
Despite inflation and interest rate volatility, self-storage remains one of Europe’s most resilient and attractive real estate sectors. Institutional capital, rising consumer demand, and continued portfolio expansion ensure sustained growth and long-term stability, solidifying the sector’s position as a premier investment opportunity.
StorTrack is the leading provider of self-storage market data and insights, enabling operators, investors, and developers to make informed, data-driven decisions. Since 2014, StorTrack has delivered accurate, actionable market analytics to self-storage professionals worldwide.
With coverage spanning over 4,500 facilities in the UK and more than 8,000 across 23 European countries, StorTrack offers access to market trends, rate data, and development insights. Stortrack’s tools, including the Explorer platform, custom reports, and API, provide clarity on market feasibility, competitor pricing, and demand trends, helping self-storage professionals stay ahead in a rapidly evolving industry.
Whether you’re optimising pricing strategies, assessing market opportunities, or expanding your portfolio, StorTrack is your trusted partner for success in the self-storage sector in Europe and beyond.
