Chapter 5
Logistics
SEE Region Real Estate Market Outlook 2026
3 Minute Read
3 Minute Read
Stable growth momentum in SEE
The logistics sector in SEE remains underdeveloped but offers significant growth potential. In 2025, Belgrade and Zagreb led the region with strong annual stock increases, a trend expected to continue in 2026. Croatia is set for more than 20% growth with 120,000 sq m of new space, while Sofia will add less but still meaningful supply. Overall, SEE markets are projected to expand logistics stock by about 10% in 2026, giving occupiers more options and supporting a shift toward more efficient facilities.
Secondary cities are gaining prominence as developers respond to strong demand—driven mainly by manufacturing, logistics operators, and retailers—combined with better land availability. Some markets have seen a slight rise in vacancy for the first time, though this is likely temporary due to robust leasing activity).
Trends to watch
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Logistics Growth Potential
The SEE logistics market remains structurally underdeveloped but shows some of the region’s strongest expansion potential. Belgrade and Zagreb led in 2025 with 11% and 15% annual stock growth, and 2026 is set to continue this trend.
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Expanding Beyond Capitals
Developers—both local and international—are increasingly turning to secondary cities, attracted by land availability and rising demand from manufacturers, logistics operators, and retailers.
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Stable Rental Levels
Rental levels remain broadly stable in 2025, with only minor increases (e.g., Slovenia) expected to hold steady through 2026.