Average rent has fallen slightly to € 4.8 / m 2 / month in relation to € 5 / m 2 / month in the previous quarter
The contracting of logistics area registered in the second quarter in Barcelona and its area of influence has added a total of 91,988 m 2 , representing a slight decrease of 15.3% compared to the same period last year, according to the latest BNP Paribas report Real Estate.
In aggregate terms, in the first semester of 2020 a total of 200,661 m 2 of logistics area were contracted, 68% less compared to the same period of the previous year, due to the large volume of two operations signed in the first quarter of 2019 .
In the second quarter of the year, 18 new operations were registered, in line with the average of the last quarters. 72% of the contracts signed in the quarter have been carried out in the regional arc, while in the local arc only one operation has been recorded. The low levels of availability in the first arc redirect demands to areas further away from the city.
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The average size of the operations reached 5,110 m 2 in the second quarter, with 83% of the contracts concentrated in the range between 2,000 and 8,000 m 2 . The most outstanding operations of the quarter were the two firms registered in Lliçà d´Amunt, in the national arc, with an area of 8,600 m 2 and 7,650 m 2 respectively.
Average income drops slightly
There is a slight decrease in the city's average rent with € 4.8 / m 2 / month, compared to € 5 / m 2 / month in the previous quarter. During these last three months, there have been no contracts signed at rents above € 6 / m 2 / month, the maximum rent for the quarter was € 5.8 / m 2 / month in the Free Trade Zone, causing Prime rent fell slightly, to € 6.75 / m 2 / month compared to the previous quarter and 3.1% above that registered a year ago.
According to the report carried out by BNP Paribas Real Estate, the vacancy rate stands at around 2.4% in the second quarter of the year, continuing with a downward trend, reducing by 50% compared to the second quarter of last year. In the areas closest to Barcelona, in the first arch, the options for users are very scarce. However, this trend could change in the coming months, with current availability levels slightly increasing, due to the need to free up user spaces whose activities are more exposed to the coronavirus crisis.
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The promotion activity continues its course towards the end of the year, where it is expected that around 405,000 m 2 will be delivered between 2020 and 2021. In this last quarter, no square meters have been delivered to the Barcelona logistics park, which currently has 6.7 million square meters.