Industrial markets across the globe are now in recovery mode, albeit at very different stages, with Asia leading the rental recovery according to a new MarketView report from CB Richard Ellis (CBRE). All regions witnessed increases in investment spend in the first half of 2010, with appetite strongest across Europe, the Middle East and Africa (EMEA), where industrial sales increased by 90% on 2009 levels, with this pace set to continue into 2011.
CBRE's first global analysis of both the occupational and investor aspects of the industrial logistics sector, shows that Tokyo has emerged as the most expensive location in the world for distribution/logistics centres, followed by London and Sao Paulo in Brazil.
Richard Holberton, director of EMEA Research, CBRE, said: 'Once the path to recovery becomes more robust across EMEA, demand for prime industrial and logistics properties will increase throughout Europe. Overall rents across the region are expected to fall by -2.2% in 2010, albeit easing to 0.6% in 2011. In line with the anticipated constraint on prime flexible accommodation for modern industrial and logistics companies in the medium term, rents could increase up by 2% moving into 2012.'
The November edition of PropertyEU Magazine examines the major trends in the industrial sector in Europe. Click on the link below to subscribe