Due to the record high volume of new supply in Q1 2022, the total stock in the industrial and logistics market exceeded 25 million m2. The eagerness of developers to build more facilities has not weakened, which was reflected in the highest ever volume of space under construction of 4.8 million m2. The high share of purely speculative schemes, accounting for 30% of the space under construction, is another sign of the market's prosperity.
The interest of tenants in the warehouse market is still very strong. In Q1 2022, a total of 1.7 million m2 was leased, of which almost 70% was new agreements. The high demand for space has driven the vacancy rate down to a record low of 3.1%.
In the latest report:
- Record volume of space under construction;
- Exceeding the threshold of 25 million m2 of total stock;
- Rental rates increase.
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