The end of the year left a significant contraction in industrial vacancy in all Mexican markets, an effect that was very marked in those in the north of the country.

Monterrey closed Q4 2022 with a vacancy of 1.1%, which in absolute terms corresponds to 158 thousand vacant square meters, when a year earlier that figure exceeded 420 thousand square meters. In this period, the rent increased by 83 cents to above $5.0 dollars per month per square meter in December 2022.

Consult here: Saltillo became in 2022 the third market with the highest industrial demand

Chihuahua also contracted its vacancy until it closed at 2% in December 2022, registering a contraction of 3 percentage points if we compare it with December 2021. This market increased its rental price by 52 cents in annual terms and closed the year with $4.7 dollars per square meter per month.

Let's review that Chihuahua and Monterrey at the end of 2022 culminate with significant increases in construction and gross demand. Chihuahua registered 195% more areas under construction and a gross demand that is 237% higher than that registered a year earlier. Monterrey does the same with increases of 57% in industrial construction and 35% in gross demand, although in absolute terms they represent the largest amounts nationwide.

Reynosa is the market that registered the highest increase in rental prices nationwide of 34% per year, closing 4Q 2022 with $4.75 dollars per monthly square meter. While vacancy has been declining since the beginning of the year, going from 3.3% to 1.1% by the end of 2022, in the midst of a market that almost doubles its construction in progress and increases its gross demand by 30%.

Of interest: Tijuana reports the most expensive industrial rental price in Mexico, exceeding $7.0 USD/m²/month

Saltillo and Ciudad Juárez closed 2022 with vacancies of 2.5% and 0.5%, the latter being the lowest percentage nationwide. Rental prices also increased at an annual rate of 18.8% and 16.8%, closing at $4.76 and $6.0 dollars per monthly square meter, respectively.

Two other markets such as Tijuana and Mexicali maintain a different trend by stopping the decline in this indicator since the middle of the year, registering vacancies of 0.8% and 2.7%, respectively, in December 2022.

However, its unit rental prices also follow the trend of annual increases of 16.6% and 22.7%, closing the year with $7.0 and $5.8 dollars per square meter per month, with Tijuana registering the highest average rental price nationwide. It is interesting to observe that in both markets the participation of speculative demand exceeds 90%, which surely affects a decrease in vacancy.