European Annual Industry Report 2023

The 2023 Report is the twelfth consecutive industry study carried out by the Federation of European Self Storage Associations (FEDESSA); this year’s report is produced jointly with CBRE for the second time.

Despite the challenges faced throughout the past year with economic headwinds, the self storage market has continued to perform resolutely and investor interest remains competitive; with a large pool of people contending for limited available opportunities.

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.

We received responses from over 100 operators representing 1500+ facilities in 24 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) 2023 Annual Survey have been added to this report where appropriate.

For the second time, the report also includes data from a survey of the public in selected European countries as to their perception of self storage and to gauge market awareness

View report

Responses to most questions in the survey relate to the facility position as at 31 March 2023.

Key Findings:

Average rent per square metre in Europe is €286, down from €290 last year
Average occupancy rate of 78.5% across Europe, down from 80.2% last year
45% of the public have not heard of self storage.
UK & Sweden have the highest public awareness and understanding
31% of the public have heard of self storage but know nothing about the sector.
Enquiries from Signage & Local Marketing are up 40%
Online presence of industry is improving:
- 81% of stores have the ability to book online
- 18% of operators are planning website improvements
26% of stores are remotely managed
Operators remain optimistic about industry:
- 68% expecting increases in occupancy
- 87% expecting improvement in profits
73% of operators think sustainability is important

Download the pdf version of the report

Historical copies of the report can be found using the links below: