Prologis Research has identified seven key trends for the industrial real estate market by 2024 in the United States and Latin America.

The above after last year it had warned about a moderation in real estate development due to the tightening of the regulatory landscape, the expansion of interest rates at maximum levels and high construction costs.

Of interest: 2023, historic year for industrial construction in the country

He also advanced the nearshoring and sustainability trends that met the expected rebound. While e-commerce recovered, it did not translate into superior leasing performance.

Among its outlook for this year, it cites first the global recession in freight transportation, which it expects to reverse, as demonstrated by the double-digit growth in port and truck traffic in the region of southern California, United States.

A second point has to do with the prospects that the great construction crisis will intensify and global construction starts will reach the lowest level since the 2008 financial crisis.

For Prologis Research, the Latin American region will continue to see rent growth at approximately double the global average, driven in part by nearshoring.

Check here: Speculative projects dominate the industrial construction of Guadalajara

The fourth trend is that annual demand in China will reach the second highest level on record, which will help overcome the excess supply of recent years, and the fifth has to do with technology, especially artificial intelligence, which will increase prices. energy requirements in logistics facilities, incentivizing warehouse owners to double solar capacity.

The last two projections refer to falls in interest rates, with which private equity real estate financing is expected to double in 2024 and finally, capitalization rate movements are expected to reverse.

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Original note