Real Estate: Tijuana exhausts its rental spaces

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It is the case of some Mexican Real Estate markets, such as Tijuana, which manages to have a vacancy of less than 1%, which could be considered a critical level for a city that is one of the highest demanders nationwide, if we make a general analysis of the current vacancy (the figure that closed the quarter), most of the spaces in this city were in negotiations, so it is practically a city that does not have existing vacant spaces. It is essential that speculative construction be reactivated to offer spaces to the demand that continues to increase.

Mexicali and Guanajuato registered annual increases of 85 and 71 cents, respectively. Tecate and Tijuana closed the quarter with 5.5 and 4.7 dollars per square meter per month, having registered annual increases of 0.56 and 0.59 dollars per square meter per month.

Construction activity closed the quarter with 3.3 million square meters progressing in different construction phases and representing an increase of almost 20% compared to 3Q 2020.

Tijuana, Baja California (Archive)

Between Mexico City and Monterrey, 35% of the industrial construction in progress is concentrated, with Monterrey being the market that stands out with an annual increase of almost 63%.

“The industrial real estate segment of the country is experiencing one of its best moments and the market indicators for 3Q 2021 show it.

Increasing demand in most markets, healthy vacancy rates, stable prices, rising construction levels, and a supply that, although lower than in previous periods, meets the quality standards to meet the demand of each of the markets”, concluded Solili.

Source: Real Estate Market

Baja California Post