During H1 2019, new demand of more than 10.5 M SF was recorded, which is 44% lower than H1 2018. The northern markets registered 6.2 M SF, which represented 58% of national demand, while Mexico City, with more than 2.5 M SF, represented 23% of new demand during the first six months.
Asking prices for industrial warehouse space for lease remain relatively stable; the national average as of the close of Q2 2019 was US$4.95/SF/year, higher than the US$4.76/SF/year as of the close of Q2 2018.
Under construction activity in the 13 markets monitored added a surface area of slightly more than 1.8 million Sq. m., which was 20% less than the space under construction during the H1 2018.