EMEA Data Centre Report Q1 2023

EMEA Research

July 12, 2023
  • 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.

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