Market Fundamentals
- In 2024, the construction of industrial spaces was impacted by rising construction costs and increasing borrowing rates. This phenomenon is expected to change during 2025, a year in which the inventory of warehouses is anticipated to increase considerably.
- During the second half of 2024, rental and sale values of industrial properties have experienced a slight increase. Class A warehouses have seen a moderate rise in rental rates, reflecting higher demand and a more competitive market.
- Although there was slow absorption of spaces, the dynamics increased during the second half of the year, resulting in a slightly positive year-end balance.
Outlook
- The 2024 year was challenging for the industrial sector, as rising construction costs and interest rates impacted the occupancy of industrial spaces, as well as their prices.
- The e-commerce, transportation, and logistics sectors drove absorptions throughout the year.
- Although there was slow absorption of spaces, the dynamics increased during the second half of the year, resulting in a slightly positive year-end balance.