Peru. They estimate that the supply and demand of this market would grow in 2023, provided that the political and social crisis is resolved.
It is worth noting that rental rates for warehouses in condominiums registered a significant increase in 2022, an upward trend that would continue this year, estimated analysts and companies in the sector.
"In the case of Type I warehouses (with shoulder heights above 8 meters), the rate at the end of 2022 stood at US $ 6.90/m² on average, 6.1% more than in the previous year," reported a report by the consulting firm Binswanger.
The increase in tariffs was due to the higher cost of construction materials and the increase in interest rates on loans that financed the development of the new warehouse offer, said Juan Ruíz, head of Market Research at Binswanger.
"This higher cost for warehouse operators had to be passed on to rental rates. In Type I warehouses, most of the constructions are made to order, that is, the operator already has a contract signed with his future client, "said Ruíz.
In Type II warehouses (with shoulder heights of up to 8 meters) the rental rate at the end of 2022 stood at US $ 5.20 / m² on average, 0.5% more than the rate registered at the end of 2021.
In those cases, the increase was minimal because in this segment construction on demand does not predominate, explained Juan Ruíz, but the new offer enters the market waiting to be rented in two to three years. "Having been built some time ago, the rent of these warehouses was not affected by higher construction prices or higher interest rates," the analyst noted.
For this 2023 Binswanger estimates that "rental rates will continue to rise, as they will still be impacted by the inflationary effect and high interest rates."