Moravian-Silesian Region is leader in construction of logistics halls and warehouses5. 8. 2021
The main credit for the rapidly increasing m2 of new logistics and warehousing facilities goes to the ever-growing e-commerce sector, which has been accelerated in the last two years by the coronavirus pandemic and the impossibility of shopping in brick-and-mortar stores. As a result, customers have moved online and made record volumes of purchases. Globally, the global retail market totalled $12.6 trillion in 2015, with online sales accounting for 8% of that total. In the following years, online sales grew significantly, so that by 2020 they already accounted for 18% of the $13.5 trillion total. This represents a 140% increase in just five years. This trend is also strongly evident in the Czech Republic, where e-commerce's share of total sales has grown from 8% to 17% in the last 5 years.
Apart from demographic factors, the main reasons for the success of the e-commerce boom are easier access to the internet, internet banking and improved transport infrastructure.
The Moravian-Silesian region was the leading region in terms of new production and warehouse space last year, followed by the Pilsen region and Prague. And this year a similar scenario is expected. At the end of the second quarter of 2021, almost 690,000 sqm of warehouse and production space was under construction, an increase of 21% compared to the previous quarter. Of the total amount of space under construction, 22% is located in the Pilsen region, 21% in Prague and its immediate surroundings and another 21% in the Moravian-Silesian region. The attractiveness of the Moravian-Silesian region is also evidenced by the fact that one of the largest transactions of this type will take place in Ostrava, where Sportisimo has pre-leased 70,000 sqm at Contera Park Ostrava D1, with another 25,000 sqm already reserved by AT Computers.
In the second quarter of 2021, the construction of halls with a total area of 226,700 sqm has started, of which 98,000 sqm is in the Moravian-Silesian Region. The share of industrial space under construction without a secure tenant, i.e. the share of speculative construction, fell by one percentage point to 24% during the second quarter. This is a year-on-year decrease of 17 percentage points. The vacancy rate is also currently at historic lows, having fallen again in the second quarter of this year to 3%, and even to 1.4% in Prague and the surrounding area. In contrast, the highest achieved prime headline rents for industrial and logistics properties in the Czech Republic rose slightly to EUR 5 per sqm/month in Q2 2021.
Source: CBRE, Inustrial Research Forum