We combine continuous commercial real estate research with cutting edge software to provide transparency to the industry through impartial and constantly updated market intelligence.
Our research team monitors and records real estate activity throughout México, covering 24 markets in the industrial segment, 5 markets in the corporate segment and 14 markets in the retail segment.
Research efforts include field verification activities that reinforce our data precision and provide our researchers with physical evidence to support our monthly market updates. Datoz proprietary software allows users to connect online any time and from anywhere. Our suite of products offers the possibility to browse verified available spaces, download property brochures, view details from thousands of lease and sale transactions, customize data-sets, download statistics and indicators in friendly and customizable formats, among many other features.
We work with an extensive network of market participants and maintain constant contact to update information on a monthly basis. In this manner, we ensure that key market data comes directly from the professionals involved in diverse activities that affect commercial real estate in each and every market.
Our researchers verify all collected data and visit markets regularly to corroborate information that can only be validated through physical surveys and on site inspections.
We continuously work to standardize number formats, calculations and ratios in order to present our results in a simple and comprehensible manner. Once data has been thoroughly verified and meets quality standards, it is merged and loaded unto our database, which in turn compares it against other entries pertaining to the same property and market to validate its place in a building’s historic timeline.
Furthermore, our analysts continually review our data sets in order to proactively amend anomalies and in doing so help maintain the highest standards of quality for real estate data in Mexico
From January to July 2022, industrial activity in Mexico increased 3.1% year over year, driven by manufacturing, which had an increase of 4.9%, while construction activity remained unchanged, according to Instituto Nacional de Estadística y Geografía (INEGI).
In July 2022, employment in the manufacturing industry grew by 1.6% year over year. Overall employment increased 6.3% due to the rise in the manufacturing of computer components, communication equipment, and electronic accessories.
The first half of the year brought the largest amount of foreign direct investment (FDI) on record for México, reaching $22.511 billion dollars according to the Ministry of Economy. The merger between Televisa and Univision, as well as the restructuring of airline Aeromexico totaled $6.875 billion dollars. Even without considering this data, FDI was 12% higher than the same period a year earlier
Consumer spending registered a year-over-year increase of 6.3% in July driven by purchases of imported products, which rose 17.2%, according to INEGI.
September 2022 closed with annual inflation of 8.7%, according to INEGI. Food and energy continued to drive the nation’s prices.
1. The central region’s markets closed the third quarter of 2022 with a total inventory of 207 million ft2
2. The region registered an availability rate of 3.30%, equivalent to 10.1 million ft2 Mexico City’s availability rate stood at 5.60%.
3. The weighted average asking price for industrial space in the central region stood at $0.44 USD/ft2/month.
4. As of 3Q 2022, the region accumulated 10.8 miilion ft2 ofgross absorption.
5. From January to September 2022, construction starts in the region recorded 8.8 million ft2
6. So far this year, the region's cumulative net absorption, excluding new spec spaces, amounted to 7.9 million ft2
7. By the end of 3Q 2022, after taking into account new spec spaces, the central region’s net absorption was negative by 425,133 ft2 .
The central region closed 3Q 2022 with a total inventory of 207.3 million ft2 of GLA, a year to date growth of 4.45%. CDMX drove this growth by adding 8.8 million ft2 in the last 9 months, to reach 165.3 million ft2 Whereas the inventories of Hidalgo and Puebla remained unchanged.
80,000,000
20,000,000
Ciudad de México Hidalgo Puebla
9-2022
By the end of 3Q 2022, the region’s availability rate stood at 3.30%, this is equivalent to 10.1 million ft2 of available space This rate has dropped 20 basis points compared to year end 2021. Mexico City’s rate stood at 5.60%, with 10.1 million ft2 of available space.
de México
The weighted average lease asking price of industrial buildings in the central region stood at $0.44 USD/ft2/month. Mexico City has had an increase in prices and its average asking rate at the end of the quarter was $0.59 USD/ft2/month, which represents an increase of 6.07% so far this year. Likewise, Puebla and Hidalgo had an increase of 4.91% and 11.67% respectively.
Ciudad de México Hidalgo Puebla 12-2021 9-2022
central region accumulated an estimated gross absorption
During the
City’s gross absorption amounted to 10.3 million ft2 , Puebla recorded 487,710 ft2 , while Hidalgo did not have leasing and sale activities.
million ft2
Ciudad de México Hidalgo Puebla
- 9-2022
From January to September 2022, only Mexico City registered construction starts in the region, adding up to 8.8 million ft2 of GLA across 41 buildings. Almost 75% of the construction is concentrated in the CTT corridor (Cuautitlán Tultitlán Tepotzotlán).
Ciudad de México Hidalgo
Puebla
1-2022 - 9-2022
far this year, net absorption in the central region, without taking into account new spec spaces, reached 7.9 million ft2.
recorded the highest net absorption, with 7.5 million ft2, followed by Puebla with 487,710 ft2, while Hidalgo recorded a negative net absorption of 96,876 ft2
Ciudad de México Hidalgo
Puebla
1-2022 - 9-2022
Taking into account new spec spaces, from January to September, the cumulative net absorption of the central region was 425,132 ft2. CDMX registered the most pronounced negative absorption with 815,966 ft2, Hidalgo also had a negative absorption of 96,976 ft2, while Puebla had a positive net absorption of 487,710 ft2
0 200,000 400,000 600,000
-1,000,000 -800,000 -600,000 -400,000 -200,000
1-2022 - 9-2022
Through the end of the third quarter, it is evident that the central region continues to show strong activity as demand for industrial space continues to grow by way of expanding ecommerce and logistics operations, driven to some extent, by the rules of origin from the USMCA
Many companies are still committed to expanding their operations and continuing to consolidate in throughout the region. At the same time, new companies have come to settle in the area due to its excellent geographic location and the quality of the industrial spaces, which favors their logistics and supply chain. We, therefore, expect real estate investments to continue for the medium and long term future
So far this year, developers have targeted locations closer to CDMX’s central districts, selecting privileged locations in regions such as Vallejo, Iztapalapa, Gustavo A. Madero and Coyoacán, in what seems to be a bet for the continued expansion of last mile operations., Such a move will continue to increase inventory, availability and will most likely push lease asking rates higher for the overall market.
Inventory: sum of the area of all buildings type A, B and C according to most developers and institutional brokerage companies at the last day of the period
Availability rate: available area divided by inventory at the last day of the period.
Asking price: weighted average asking price weighted by the available area at the last day of the period.
Gross absorption: sum of leased, subleased and sold area during the period.
Net absorption 1: gross absorption minus the sum of the following areas during the period: available area because of a move out and build to suit building area.
Net absorption 2: gross absorption minus the sum of the following areas during the period: available area because of a move out, new available area and build to suit building area.
Construction: sum of the following building areas during the period: build-to-suit, speculative and own construction.
The material presented in this document by Datoz Real Estate refers to information collected from the market and provided by trusted sources. The contents shall be exclusively informative without legal value or effect or of any other nature, so Datoz Real Estate is not responsible for any damage that results from or may derive from the use or misuse that is made of these contents. For more information about this report or any other investigative material of Datoz consult our website www.datoz.com.
