At the end of April 2023, the inflation rate in Mexico decreased 0.02% compared to March, reaching 6.25%. With these figures, the scenario of slowdown in the growth of this indicator continues, although it still seems far from the trajectory required for inflation to converge to its target of 3%, projected by the Bank of Mexico.

For its part, the Mexican Chamber of the Construction Industry ruled on the 3.58% increase in the National Consumer Price Index in April 2023, which also indicates the trend towards deceleration after having registered double-digit increases. for almost a year and a half, between 2021 and 2022. This behavior where construction costs grow at a slower pace favors the construction industry.

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However, there are other factors in addition to the direct costs of materials such as energy and land costs, as well as market factors that are generated between supply and demand that end up pushing rental prices in the case specific to the industrial real estate market.

At the end of April 2023, as reported by the real estate platform Solili, the industrial markets of Tijuana, Mexico City and Ciudad Juárez report the highest values that are above $6 dollars per square meter per month up to $7.7 dollars per square meter per month. registered in Tijuana.

In percentage terms, the highest annual increases are registered by Monterrey, Tijuana, Mexicali y Reynosa, which exceed 28% per year. Of the markets in the north of the country, Saltillo is the one that registers the most competitive average rental price with $4.8 dollars per monthly square meter.

Between January and April 2023, Monterrey exceeds 455,000 square meters of gross demand, which represents a quarter of the national total and registers an average rental price of $5.7 dollars per square meter per month, amid a 0.9% vacancy.

In the case of the Mexican lowland markets, Querétaro and Aguascalientes registered the highest annual increases of 16.8% and 13.6%, respectively. San Luis Potosí and Guanajuato registered lower annual increases with 4.5% and 2.3%, respectively.

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Average rental prices in these four markets range between $4 and $4.6 dollars per square meter per month, being the most competitive prices nationwide.

Another determining factor in the projection of rental prices will be the trend taken by the vacancy, which at the end of April 2023 has continued to mark its downward adjustment in almost all markets nationwide. Given this scenario, the slowdown in the increase in costs will have less weight than the balance of supply and demand, which still leaves room for growth in rental prices towards the end of the third and fourth quarters of the year.