Research
EMEA Data Centre Report Q1 2023
EMEA Research
July 12, 2023
Contributors:
- Tom Glover
- Daniel Thorpe
- Krupa Suchak
- Xavier Plowright
The European Tier I markets of Frankfurt, London, Amsterdam, Paris and Dublin have experienced unprecedented growth over the past seven years. In our Q1 2023 report we explore the dynamics of these core markets, a look into two key emerging European markets and our forecasts for the year ahead.
Key findings:
- JLL forecast that the total market size of the Tier I markets will grow by 17%, an additional 432MW.
- Over half of the forecasted new supply will be seen in the London and Frankfurt markets with both set for substantial growth in 2023.
- 2022 saw a sizeable shift towards hyperscale demand, rising to 83% of all transactions from 66% the year previous. JLL anticipate this trend to continue into 2023.
- Q1 2023 saw 66MW of take up, the strongest first quarter on record.
- JLL forecast that 2023 will be another record year for demand. We predict 392MW of take up for the year, an increase of 32% from 2022’s total.
- The basis of our demand forecast comes from the sheer amount of pre-lets signed last year. JLL tracked 484MW signed as a pre-lease in 2022, with the majority of these schemes due to come online in 2024.
Download the report for more details.
