FEDESSA Industrial Report 2022

The last quarter of 2022 saw the publication of the annual Industrial Report conducted by the Federation of European Self Storage Associations(FEDESSA). Despite COVID-19 and economic headwinds, the self-storage market continued to perform strongly and investor interest also continued to grow.

100 operators in 24 countries

The industry research was created using input from more than 100 operators representing more than 1,000 self-storage sites in 24 European countries, accounting for nearly a third of the total self-storage market.

You can of course download the report from the link below and read through it at your leisure. We are already listing some notable outcomes for you and comparing them where possible with the Netherlands, our home country.

• The average rent per square meter of self-storage in Europe is €290.00, an increase of 7.9% compared to 2021. In the Netherlands, by the way, the average rent is €219.00.
• Nearly 60% of storage venue owners plan to significantly increase rates in line with inflation over the next 12 months.
• The average occupancy rate was 80.2%, down slightly from 81.5% the previous year. In the Netherlands, the occupancy rate is 86%.
• 77% of operators expect occupancy rates to increase over the next 12 months.
• 20% of the Dutch population is considering the use of self-storage. In emerging countries, that percentage is generally lower.
• Inflation is the biggest concern for operators, followed by the possibility of a recession, rising land costs, an oversupply of self-storage in their own region and the effects of the war in Ukraine.
• The number of business customers increased from 22% in 2021 to 29% in 2022. In the Netherlands, the ratio of business to private customers is in line with the European average
• The average size of a self-storage location in Europe is 3,000 m2, while in the Netherlands it is over 4,000 m2.
  

New technology

Operators are increasingly using the latest technology to further enhance their service levels and safety. Consider the increasing use of surveillance cameras, electronic access systems, offering 24/7 access, online reservation and payment options.

Sustainable steps

Although an increasing number of self-storage entrepreneurs are taking steps – want to take steps – toward more sustainable operations, sustainability is still barely established in the industry. Only 38% of sites use LED lighting, only 20% work with recyclable packaging materials and only 3% deploy solar panels.

Fortunately, we can already offer our clients more sustainable operations. Our sustainably produced long-life Z-Box is a good example. We also offer the possibility of installing solar panels on the self storage container and our customers can install very economical work lights.

The first 2023 issue of Unlocked, FEDESSA’s quarterly magazine, discusses our solar panels as an additional revenue model in more detail.

FEDESSA’s entire Industrial Report 2022 is available for download here. I am also available to further explain the use of solar panels as an additional revenue model.

Jan-Hein Streppel