HE International Logistics Fair (DELETEHeld these days in Barcelona, 2019-2020 serves to test the health of an industry dominated by controlled optimism and good prospects despite growing dark clouds. 66% logistics operators It predicts an increase in demand in 2023. This is the result of a barometer run by the consulting firm. CBRE and presented at the fair. According to their data, the logistics commitment closed the first quarter with an area of over 690,000 m², above the average of the last five years. The sinister forecasts of rising prices and lack of space that dominated last year have not been so significant, and turnkey deliveries are progressing at a good pace with a more stable economic context than expected and with falling inflation.
according to the analysis CBREThe increase in financing costs (24%), the increase in construction costs (19%) and the lack of logistics space (19%) are cited as the biggest challenges in the industry. But growth is not everything, and persistent pessimism manifests itself in the form of a decline in investment.
investment decline
HE logistics investment market In Spain, it closed the first quarter with a volume of 293m euros, down 67% year-on-year, mainly due to higher financing costs following consecutive interest rate hikes. “This downward trend will continue in the coming months, with the projection of closing the second quarter with less than 100 million investment and closing 2023 with a total investment volume of around 1,000 million euros,” the CBRE report said. The investment behavior in the Spanish logistics market is in line with the trend recorded in Europe, with a 65% decline in total Real Estate investment in the first quarter.
consistent demand
According to XI Logistics Market Research from CBRE, meters, which contracted in the first quarter despite the decrease in investment, are growing by 1.5 percent compared to the same period of 2022 and above the average of the last five years. Logistics factories introduced in the past have customers without any problems when completed. Warehousing or order picking (3PL) services accounted for 25% of Central Zone hiring last year, followed by 22% of surface area for supermarkets and 21% for shipping and distribution. In Catalonia, comprehensive logistics services represented 33% of contracting, followed by transport and distribution (27%) and supermarkets (19%).
Slower growth of e-commerce
E-commerce has lost weight in contracting compared to recent years. In 2020, e-commerce related operations represented 43% of logistics contracting transactions in the Central Region, while this figure fell to 23% in 2021 and 12% in 2022. This is followed by the pandemic with 21% in 2021 and 7% in 2022. These figures show the consolidation of e-commerce, an industry that will continue to grow and create new space demand in the coming years.
GoDaddy he has published observatory digitization It analyzes the current state of electronic commerce of small companies of international scale, including Spain. The survey found that 65% of Spanish entrepreneurs use a website, an ‘online’ store, an e-commerce platform or a combination of these as their main sales channel, compared to 61% worldwide. 37% of small Spanish companies set up their businesses in the last five years. According to survey data, nine out of 10 Spanish companies have been in the market for more than a year, exceeding the rate in the US (6%). All these companies require a postal, shipping company or logistics contract or external storage to develop their business. According to the same source, the electronic commerce penetration rate in Spain is predicted to rise to 14.7% by the end of 2024 in a predictable way. This figure will represent a significant growth compared to 4.6% in 2017, an increase that accelerated especially after the epidemic. of the epidemic.
trust demand
“Despite uncertainty in the market, confidence in the industry remains positive with very good prospects for demand,” said Arancha González, Deputy Director of Research. CBRE Spain. In fact, 74% of logistics operators plan to invest in the sector in 2023. Technology and sustainability come to the fore in this area. 86% of operators will invest in a sustainable logistics project next year, and 13% of operators plan to invest in technology to increase their company’s productivity and efficiency in 2023. Inside SIL fair As a result of the change and modernization of the sector in recent years, especially the technological field has been the most pampered field.
Despite the slowdown caused by the increase in interest rates, “Logistics, together with ‘Living’, continues to be the most attractive sector for financial institutions as well as occupiers and expansion plans,” he said. Carlos García, Senior Director, Industrial and Logistics Investment Properties, CBRE Spain. Dallas-based CBRE is listed on the New York Stock Exchange and is a Fortune 500 company. Consulting has more than 115,000 experts in over 100 countries.