The survey was produced with input from operators to help quantify the size and drivers of the industry across Europe. We hope it will be a useful reference point for investors and operators in this growing and dynamic market.
This years survey differs from previous years in that the data was gathered in July with 2 data points, February and June 2020. This was to measure the impact of COVID-19 on the industry, with February being before countries went into lockdown and June when most countries had eased lockdown restrictions.
We received responses from over 100 operators representing 900+ facilities in 16 countries, which covers almost a third of the total market. The survey does not include the industries in the United Kingdom, but responses to the Self Storage Association UK’s (SSA UK) 2020 Annual Survey have been added to this report where appropriate.
Responses to most questions in the survey relate to the facility position as at 30 June 2020.
- The top ten operators in Europe represent 18.2% of the number of facilities and 36.1% of the total available space
- Six countries have 78% of the total market share of facilities in Europe
- The self storage industry in Europe continues to grow. We estimate that there are now 4,831 facilities providing nearly 10.5 million square metres of self storage space.
- The average rent in Europe is €250 per square metre per annum. The average rental rate decreased by only 1% between February and June.
- The average occupancy across Europe stayed at the same level as last year at 79%
- Contrary to the previous three years were business users were taking an increasingly bigger proportion of self storage space, the European average of occupied space by business customers stayed at the same level as in 2019 (32%).
- For the second year running we saw an increase in the amount of enquiries generated via signage, increasing from 10.5% to 12% in 2020.
- Web enquiries generate the highest percentage of the inquiries ( 66% of customers)
- Online price transparency continues to increase with 80% of operators listing prices on their websites compared to 74% in 2019.
- The self storage industry across Europe have remained largely unaffected by the pandemic.
- Within our survey sample size of 932 facilities there are 121 planned facility openings over the next year.
- 3.2% of the customers received a rental holiday or some form of concession at the peak of the pandemic but revenues had returned to normal or in many cases above normal by June.
Historical copies of the report can be found using the links below: