The vacancies and rental prices that the industrial sector obtained throughout 2023 show us some trends that could come in this new year that has just begun.

The pressure of industrial demand that was mainly established in markets such as Tijuana, Mexicali, Aguascalientes, Guadalajara and Puebla allowed these markets to exceed the percentage of growth that they had been showing with respect to 2022.

However, other markets such as Mexico City, Monterrey and Saltillo maintained a level of demand that represents 70%, approximately what had been registered the previous year, while their vacancies remained at low percentages compared to the national average, with 0.7%, 1.1.% and 1.3%, respectively, .

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In other cases, such as in Ciudad Juárez and Querétaro, we observed that although vacancies reached the highest levels of 3.9% and 3.3%, they also saw accumulated gross demands of 70%, on average compared to 2022.

There were various causes for the contraction in demand, which on a national average stands at 21%, including an extension in terms of some investments and in the case of some markets, tenants faced very few options and those that were They found that they did not meet their requirements, which generated the extension of decision deadlines, while other possible options were evaluated.

At the same time, variables such as inflation and credit rates continued to grow, although at a slower rate than what was observed in previous periods, which, together with a shortage of supply, directly affects the increase in loan prices. income from various industrial markets nationwide.

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2023 closes with industrial rental prices that move between the minimum average in Guanajuato with $4.47 dollars per monthly square meter to the maximum recorded in Tecate and Tijuana that close Q4 2023 with $8.46 and 8.05 dollars per monthly square meter, respectively.

The markets that had the largest increases in rental prices throughout 2023 were Tecate, which increased by 50%, while Monterrey, Chihuahua and Reynosa registered increases of more than 25% in the average prices of their industrial rents. Meanwhile, in Mexicali and Saltillo, rental prices remained more stable with adjustments that exceeded 10% annually.

In general, it was a year where both investment trusts and industrial developers leaned towards an offer with a lower speculative proportion, maintaining provisions for sharing the risk with potential tenants. It was a period of observation of various real estate variables in order to fine-tune their strategies with the redesign of their portfolios, which led various groups to acquire new properties and dispose of those that did not fit their strategies.