High Warehouses Demand
In the warehouse real estate market in Bogotá, there is a promising outlook for industrial park funds and developers. During the first half of 2023, there is a decrease in the availability rate, which indicates high demand and a shortage of available spaces.
The construction of new warehouses on speculation has been considerably reduced mainly due to the high costs of raw materials. This has led to an increase in rental prices for new developments but has also strengthened the trend for long-term contracts. A dynamic market and greater competition for available spaces is expected, which requires strategic planning by developers and companies interested in warehouses.
On the other hand, investors are waiting for the government’s ability to carry out the most radical proposals and reforms, which would define the confidence in attracting investments to the country.
– The accumulated absorption for the year is 246,528 sqm, increasing by 82,500 sqm compared to the same period in 2022.
– The availability rate of class A warehouses closed at 2.8%, in the Free Zones at 8.4%.