Post by account_disabled on Mar 11, 2024 22:39:40 GMT -5
One of the businesses with the greatest growth projection in real estate is contracting. The hiring of logistics surface this second quarter of 2023 has amounted to 99,894 m2, which is 38% less than the same period of the previous year, a significant drop in hiring in this quarter that is only surpassed by the second quarter of 2020 in the midst of the Covid crisis, in which 88,453 m2 were contracted, according to data from the real estate consultancy Forcadell.
It is too early to be able to give an explanation for this decline, although the cost of financing and the proximity of general elections could be the main brakes on decision-making.
Most of the contracted area has been located in the third ring of Barcelona , which has reached 49,266 m2 (49% of the total) in four operations. The next in meters is the second crown with 39,854 m2 (40% of the total) in five operations and the first crown has registered 10,775 m2 (11% of the total) in two operations.
The number of operations has fallen to 11 and places the average operation in Catalonia at 9,081 m2. The third crown registers a higher Czech Republic Mobile Number List average than the first crown, which usually concentrates smaller volume operations.
According to data from Forcadell, of the total contracted, 50,271 m2 (50.32% of the total) belong to new stock, either in turnkey format or new warehouse built at risk. As a positive fact, we can report that the market continues to absorb m2 of new stock and availability remains very low . In terms of operations, highlights include the rental of a 22,000 m2 warehouse in Bràfim (Tarragona) owned by Aliseda and another 12,000 m2 warehouse owned by Mirastar in Constantí (Tarragona).
Even with the decrease in hiring, there is no forecast for a correction in rents, quite the opposite, since the cost of capital is pushing up the asking rates for new projects and rents will tend to rise in the coming months,” says Gerard Plana . , Director of Industrial-Logistics at Forcadell .
In terms of investment, “funds and SOCIMIs continue to be very active in the logistics real estate market, especially in Catalonia where everyone has their focus due to the low availability and market dynamics,” declares Gerard Plana. The high prices are beginning to be an inconvenience that is slowing down some operations, so a correction is expected to follow in terms of exit yields and land prices in depending on which areas.
It is too early to be able to give an explanation for this decline, although the cost of financing and the proximity of general elections could be the main brakes on decision-making.
Most of the contracted area has been located in the third ring of Barcelona , which has reached 49,266 m2 (49% of the total) in four operations. The next in meters is the second crown with 39,854 m2 (40% of the total) in five operations and the first crown has registered 10,775 m2 (11% of the total) in two operations.
The number of operations has fallen to 11 and places the average operation in Catalonia at 9,081 m2. The third crown registers a higher Czech Republic Mobile Number List average than the first crown, which usually concentrates smaller volume operations.
According to data from Forcadell, of the total contracted, 50,271 m2 (50.32% of the total) belong to new stock, either in turnkey format or new warehouse built at risk. As a positive fact, we can report that the market continues to absorb m2 of new stock and availability remains very low . In terms of operations, highlights include the rental of a 22,000 m2 warehouse in Bràfim (Tarragona) owned by Aliseda and another 12,000 m2 warehouse owned by Mirastar in Constantí (Tarragona).
Even with the decrease in hiring, there is no forecast for a correction in rents, quite the opposite, since the cost of capital is pushing up the asking rates for new projects and rents will tend to rise in the coming months,” says Gerard Plana . , Director of Industrial-Logistics at Forcadell .
In terms of investment, “funds and SOCIMIs continue to be very active in the logistics real estate market, especially in Catalonia where everyone has their focus due to the low availability and market dynamics,” declares Gerard Plana. The high prices are beginning to be an inconvenience that is slowing down some operations, so a correction is expected to follow in terms of exit yields and land prices in depending on which areas.