Despite the increase in the interest rate in Mexico, which is compared to the yield offered by investments in real estate, the fundamentals of the Fibras look good prospects in the remainder of this 2022.

Eduardo López Ponce, an analyst at Grupo Financiero Ve por Más, explained that the good financial results of the second quarter of the year promoted a positive trend for real estate investment trusts, which are financial instruments created to invest in the real estate business.

Under a sample of seven larger and more marketable fibers listed on the Stock Exchange, such as Fibra Uno, Fibra Prologis, Fibra Macquarie, their revenues grew 9.0%, on average, between April and June.

See also: Fibra Plus sells assets worth 1,902 million pesos

In the same period, distributions increased 14.5 percent, which represents a 'dividend yield' of around 8.0% on average. The dividend yield is still below what the 10-year Mexican bond pays, which is around 8.45%, which impacts the performance of fiber securities.

"These are good results despite the effects of rising interest rates," said López Ponce.

By segment, the industrial sector is at optimal levels, with 97.3% occupancy, however, in border markets, such as Tijuana and Chihuahua, occupancy reaches up to 100%, which translates into an increase in rents. In addition, these are charged in dollars and their contracts are linked to inflation.

“It is a sector that still has a positive outlook in the medium term. The demand is driven by the relocation of companies that are seeking to relocate their production closer to the United States and where Mexico has natural advantages due to its geographical position and the free trade agreement. The good moment of the logistics segment also stands out, which derives from the growth of electronic commerce”, highlighted the Bx+ specialist.

Of interest: There are signs that office vacancy rates in the country are declining slightly

For their part, office spaces continue to have low occupancy, at levels of 70%, against the 85% reported before the Covid-19 pandemic, explained Eduardo López.

The prospects for this real estate division are complicated by the trend of mixed work in the country, as well as a prospect of economic slowdown that would affect the demand for offices. For this reason, it is expected that income levels will continue to be under pressure.

In Solili you can consult available industrial warehouses and offices in Mexico City

Original note