Logistics market has turned – transaction volume increased by 47 percent

Investment activity has been the clearest signal of the market's recovery. Transaction volume within industrial and logistics amounted to SEK 33.3 billion during 2025, an increase of 47 percent compared to the previous year. The segment continued its strong performance in the first quarter of 2026 with transactions totaling SEK 13.4 billion, making industrial and logistics one of the most active segments in the Swedish investment market.

At the same time, the quarter's volume was heavily concentrated. Catena's acquisition of a portfolio of twelve properties from Urban Partners for SEK 6.45 billion accounted alone for nearly half of the quarter's industrial and logistics volume, and the two largest deals together accounted for around 60 percent. The underlying market activity was therefore somewhat more subdued than the overall figure suggests.

At the same time, the pace of development has slowed after several years of extensive new construction. Completed logistics space fell in 2025 to its lowest level since 2016, while around 890,000 square meters are expected to be delivered during 2026. Developers are increasingly focusing on projects with secured demand rather than speculative construction.

Ulf Brandes, International Partner, says: "2025 was a year in which we once again saw increased transaction volumes and growing interest in logistics properties from both Swedish and international investors. At the same time, compressing prime yields were noted, which is a clear sign of increased confidence in the segment. Q1 2026 also got off to a strong start, while Q2 has felt somewhat more uncertain due to global unrest."

Daniel Aspgren Larsson, Valuer, says: "In this year's edition of Logistics Sweden, we map upcoming new construction at the hub level and show how it is being concentrated in strategic corridors and national distribution nodes. This reflects a more balanced and demand-driven market, where expansion is increasingly taking place in locations that strengthen the distribution network. The locations that can support larger flows, connect regions, and meet tenants' growing demands for automation, power capacity, and flexibility are well positioned for the next phase of development."