Self storage across Europe: An update

According to the most recent newsletter published by FEDESSA (The Federation of European Self Storage Associations), self storage continues to make slow progress in its advance across Europe, as it struggles to shake off the impacts of the global recession and stoke consumer interest in its product.

Obviously, it is hard going as the economic crisis – which may be deepening again in some countries – has constricted peoples’ spending power, while they also have to contend with the twin impacts of high unemployment and vast levels of government debt.

This may hold back the growth of self storage in Europe for a number of years, but the industry is more than holding its own – a testament to the ingenuity and dynamism of the people who are striving to further its advance.

Here is an individual update on the situation in a number of countries:

Self storage in France

An impressive number of facilities, 133, belong to the French self storage association, although they are all owned by just three companies. A project has been commissioned to try and attract more members. Meanwhile, self storage prices have remained buoyant as demand continues to increase, perhaps because France has got off more lightly than many of its neighbours during the recent economic turmoil. There has been a lot of growth in small, family-run self storage facilities at locations across the country, although for now they do not seem keen to join the official association.

Self storage in Spain

Spanish self storage has been suffering something of a rebound from its rapid expansion during the property boom, when developers fell over themselves to put up small, expensive houses that didn’t give the buyers enough room for all their possessions. In the last year, one company has left the Spanish self storage association, leaving it with 25 operators running 61 self storage facilities. The association is quite proactive, running joint publicity campaigns for all its members, and having organized a charitable scheme in which facilities support a network of hostels for children suffering from cancer. Low property prices following the bust are expected to make self storage facilities attractive to investors in the coming months and years.

Self storage in the Ireland

Irish self storage has continued to grow, which is impressive given how sharp the economic contraction has been, especially with the bursting of a property bubble which fuelled the growth of self storage. In 2010 the Irish self storage association had 8 members with 17 facilities between them, whereas now there are 11 members who own 21. A lack of investment has become a problem, and most self storage companies are under constant pressure to reduce their rental rates.

Self storage in the Netherlands

Dutch self storage is expanding slowly, although reliable figures for the growth in facilities are hard to come by because very few new ones have chosen to join the official association, perhaps because of the high fees it charges for membership (370 Euros to join initially, plus an additional 170 Euros for each facility a company operates). The Dutch self storage association is largely a lobbying and networking group, although they also cooperate with the fire services and government departments to provide the latest regulatory information to their members.

Self storage in Norway

Self storage continues to develop slowly in Norway, with the Norwegian self storage association now boasting 8 members and 21 facilities. There is growing consumer interest in self storage, which is stimulating the development of new self storage centres in smaller towns outside the main urban areas.

Self storage in the Czech Republic

Only 3 self storage companies belong to the Czech self storage association, although consumer interest in self storage seems to be growing, with more new customers moving in this year than did last. However, prices are deteriorating in line with weak property values.

Self storage in Finland

The Finnish self storage association now has 9 members with a total of 32 facilities, and they hope to create a common rental agreement which all their members could use. The name of the Association in Finnish is Istepalveluvarastot Ry – which is perhaps why they also list coming up with a new one as one of their top priorities!