Good times over for industrial rents in major ports

While the recent improvement in world trade is encouraging for industrial demand in the major port markets, we don’t expect an acceleration in rental growth this year. Supply bottlenecks will still take time to unwind and the low availability of space and affordability constraints mean that alternative locations will also become increasingly attractive for some occupiers. This supports our view that industrial rental growth in the major port markets will do no better than the euro-zone average in the coming years.