At the end of the first semester of 2022 in the Bajío, the markets of Querétaro and Guanajuato have stood out with significant increases in gross industrial demand of 123% and 110%, respectively. 

This is not the case with San Luis Potosí, whose gross demand for the first half of 2021 is 1.4 times higher than that of the first half of 2022, and the same is true of San Luis Potosí, where the demand for the first half of 2021 is three times higher than that registered. in the same period of 2022.

The growth in demand that we saw reflected in Querétaro and San Luis Potosí responds mainly to custom-made projects.

Guanajuato, which manages to accumulate a demand for the first half of 2022 for almost 437 thousand square meters, exceeds the demand recorded by Querétaro by 150%. 

Guanajuato, in just the 10 main operations that closed the semester, manages to group almost 70% of the gross demand, represented in areas of 11,000 to 113,000 square meters, where Class A custom-made projects largely predominate, which will be destined mainly for manufacturing projects.

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In Querétaro, the sizes of the ships that make up the demand are smaller than those registered in Guanajuato. 

The 10 operations with the largest areas range from 9.7 to 45.4 thousand square meters and this group of closures make up 68% of the demand in the second half of 2022, where the two largest operations correspond to data centers that will make life in the area.

In other words, the growth that these two important markets in the Bajío have registered is mainly based on custom-made projects, however, the speculative demand is still well below what was reported in pre-pandemic periods, that is, they have The demand for made-to-measure projects has recovered, but not the speculative ones.

If we analyze the vacancy in both markets, we can see that Guanajuato maintains a 5.9% vacancy rate at the end of 2Q 2022, the highest percentage nationwide, while Querétaro registered 3.46%. 

Perhaps because of this characteristic, Guanajuato is one of the few markets that has kept its price stable, without reporting significant increases, as other markets in the country have done.

However, Querétaro registered the most pronounced downward adjustment of vacancy with an annual decrease of 3.6 percentage points, while Guanajuato adjusted downward by 2.8 percentage points, in the period of one year.

This conjunction of increases in demand and vacancies that adjust downward are signals to activate speculative demand that could find a favorable scenario if the demand for suppliers integrated into the production processes that will start operating before the end of the year and that they are still under construction.

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These speculative format ships could maintain average sizes of 8 to 15 thousand square meters that make up the history of occupants that make up the most active corridors of the shoal.

It stands out that in Querétaro the rental price has increased by 6.4% in annual terms and by 7.8% since January 2022, where the construction activity is in the order of 434 thousand square meters, so we can expect price increases in the remainder of the year.

In turn, Aguascalientes and San Luis Potosí also registered increases in rental prices of 7.1% and 2.1%, respectively, so a greater presence of speculative construction activity would also be beneficial for this market, which allows a better balance towards the medium term.