Industrial market has best historical performance in a one-year period | Q4 2024
Driven by large retail/e-commerce companies, vacancy rate is the lowest ever recorded in Brazil.
A year to go down in history. The logistics warehouse market closed 2024 celebrating records: lowest vacancy rate ever recorded, highest accumulated gross absorption, and best fourth quarter. The data is part of the First Look survey, conducted periodically by JLL.
There were over 4.3 million sq m of gross absorption during the year across the country. Net absorption closed at 2.6 million sqm. This scenario caused the national vacancy to fall 1.5 percentage points compared to 2023, reaching 8.4%. The high volume of transactions helped raise rental prices in Brazil. The value per square meter rose more than 10% in a year, being negotiated, on average, at R$ 28. In São Paulo, the increase already exceeds 15%, and values revolve around R$ 31/sqm.
The overall increase in transaction volume caused the logistics warehouse stock to jump from 21 million to 34 million sq m in the last four years. That is, 62% growth. "This shows that the market was able to react to demand and deliver quality products in the locations desired by occupants to meet various demands," notes André Romano, JLL's Industrial and Logistics Manager.
