So far from January to August, Mexico City has continued to score in the gross demand indicator at the national level with 727 thousand square meters, closely followed by Monterrey.

The lowest average rental price recorded in the pandemic period was in March 2020 with $ 5.14 per square meter per month, followed by that registered during June 2020 by $ 5.26 per square meter per month.

It was right there where we see turning points where the rental prices of industrial buildings in the capital begin to increase, reaching their maximum value in October 2020 with $ 5.89 per square meter per month.

When making monthly measurements, some outliers may jump, which tend to be weighted with the quarterly closing that sheds light on the trend since they are the figures comparable with the same periods of previous years. Figures at the end of 3Q 2021 are issued during the first three days of October 2021.

If we analyze the environment we had in Mexico during the first quarter of 2020, during the months of March and April, non-essential activities were paralyzed, and that is where consumer habits triggered the demand for goods and services.

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Institutional developers by similarity of what was shown in the United States

They analyzed market forces and existing inventories, making investment decisions that would allow them to meet the increasing demand.

Now, the production time of a standard 10,000 square meter warehouse can take between 6 to 9 months as long as the issue of land and its permitting have already been resolved.

As construction progressed, the demand continued to demand spaces and the vacancy between March and September 2020 softened the slope of increase when compared to the pre-pandemic periods, reaching a value of 4.7% in August 2021.

Another important factor that was unleashed at the same time is the increase in prices of goods and services that precisely affects the cost of construction. Steel prices increased by 40% added to the 12% rise in the main construction supplies such as concrete, cement, plaster and PVC pipes.

All these increases as a whole have an impact on the increase of almost 25% of the value of construction works, as indicated by the industrial developers Grupo CCIMA and the consulting firm Forecasting in an interview published by El Financiero at the end of June 2021.

When combining a growing demand, with increases in construction costs and with the effects of the pandemic impact on multiple sectors of the economy, institutional developers reacted by intensifying competition to achieve a competitive advantage that allows them to validate their portfolio and acquire new properties that are aligned with their goals.

Check here: Industrial activity in Mexico registers 10.5% growth from January to July 2021

If we analyze the unit prices in the submarkets, the submarkets of Vallejo and Iztapalapa registered the highest prices above the capital average, with $ 7.36 and $ 6.84 dollars per square meter per month, respectively.

Vallejo to the northwest and Iztapalapa to the east, are submarkets on the edge of the city through the inner circuit, so the pressure to find adequate spaces for e-commerce storage has raised prices even more than in the rest of the city's submarkets. .

Regarding the CTT zone, which groups the Cuautitlán, Tultitlán and Tepotzotlán submarkets, the unit prices registered as of August were $ 5.81, $ 5.71 and $ 5.04 dollars per monthly square meter, respectively.

Since these submarkets concentrate half of the city's inventory and if they join Toluca they total three-thirds of the capital's industrial buildings, what happens there becomes decisive to determine the average unit price of the capital.

Today, more than ever, understanding the real estate markets through the monitoring and study of the data generated by transactions has been the differentiating element used by developers of large and extensive portfolios that have emerged stronger even in the midst of the pandemic.