Logistic absorption in Valencia increased 53% during 3Q

Logistic absorption in Valencia increased 53% during 3Q

When compared to the previous quarter the increase was even higher: 290%, according to the latest report from BNP Paribas Real Estate. In total, during the third quarter, nine operations with an average 8.367 sqm were registered. Up until the 1st of October, 21 new contracts were signed, a number slightly higher than the 20 operations registered during the same period last year.

According to the same report, the aggregated contracting until the 1st of October reached 135.308 sqm, 42% below the maximum levels reached last year during the same period. This difference is mostly due to the large volume of operations concluded during the first quarter of last year, which represented 113.000 sqm.

One of the major differences to be identified was the diversity in demand. Apart from the Central region, where different operations took place during the last three months in markets such as Ribarroja, the highlight goes to the Southern area which concentrated 42% of all operations during the analysed period (Q3 2020).

Rents remain at the same levels

During the last few months, there were no significant rent variations, having remained at the same levels as those at the start of the year in most markets.

The highest rents remain at 4.5 €/sqm/month within locations such as Ribarroja and Almussafes. The one market to have had a small upturn during the last few months was Pista de Silla, where the maximum rents increased up to 4.25 €/sqm/month due to the future construction of new logistic projects.

The entry of new logistic platforms on the market, together with logistic spaces which have become available, made the availability rate increase slightly up to 4.68%, out of a universe of more than two million sqm, revealed the consultant.

Given the demand, developers’ activity continues its course: there is currently 54.608 sqm being developed which should be delivered until the end of the year, on locations such as Ribarroja, Quart de Poblet and Cheste.

#This news was also released in Spanish website Observatorio Inmobiliario

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