New European survey highlights strong demand and technological investment. The evolving consumer trends are supporting the demand for Self Storages in the Nordics.
Key takeaways from the survey
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Despite economic and political uncertainties, the sector remains robust with growth potential.
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Unmanned, automated stores are increasingly popular offering attractive opportunities as alternative asset classes for investors
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90 % of operators are utilizing AI tools for functions, as younger demographics drive a surge in online bookings and mobile app adoption. Nordic markets reflect this digital-first shift.
Remote management and the demand for self storage usage are increasing
The 2025 European Self Storage Industry Report reveals strong fundamentals and long-term growth potential. It reveals that industry is showing continued resilience, despite economic and political uncertainty, with 70% of operators anticipating improvements in both occupancy and rental rates within the next year.
Rental rates saw a notable 5.4% increase, reaching an average of €312.56 per square metre per annum, albeit partly offset by a small drop in occupancy rates with growth fuelled by strategic investments in technology and evolving customer preferences. A significant 90% of operators are now utilising AI tools for functions like pricing and customer analytics, reflecting a commitment to efficiency. Furthermore, the research notes a shift in usage patterns, with personal self storage usage increasing, reversing a prior trend.
The sector is also innovating its operational models. The rise of remotely managed stores, particularly in Sweden, Austria, and Germany, is being driven by advancements in access control and automation, signalling a move towards greater efficiency and convenience.
The Nordic Self Storage Market Remains Active
The Nordic self-storage market is experiencing a period of significant activity, marked by mergers & acquisitions (M&A) and capital-raising processes. Investor interest in the sector remains robust, fueled by the potential for growth and attractive returns. Several notable transactions include the recent IPO of Cityvarasto in Finland, Centerbridge acquiring Second Space in Norway and Heitman investing in Servistore in Sweden. In addition, there are several ongoing processes that are expected to be concluded in the coming quarters and thus activity levels to remain high.
Fundamentals for Self Storage in the Nordics remain attractive with low penetration rates compared to European and UK markets and other supporting drivers such as high urbanisation rates and shortage of high-quality, well-located small industrial facilities
Growth Drivers: Urbanization and Changing Lifestyles
Several powerful forces are driving the growth of the self-storage sector in the Nordics. Urbanization, with its increasing population density and limited living spaces, creates a growing demand for storage solutions. Furthermore, the trend of declining household and apartment sizes is further amplifying the need for convenient, close-to-home storage facilities. These factors, coupled with the ongoing expansion of Nordic cities and surrounding regions, are expected to provide continued tailwinds for the niche sector's continued growth and development
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