Inside Self-Storage (ISS) has launched a survey report published by Colliers International Group Inc. with findings from the real estate services firm’s first survey of Latin American self-storage operators. “Latin America Self-Storage Survey 2016” examines factors driving the growing markets in Central and South America as well as Mexico, and provides data on occupancy and rate expectations in the region. It also explores how current operators are reaching consumers and their plans to expand in the next 12 to 24 months.
The report identifies Brazil and Mexico as the two nations with the largest amount of self-storage investment but also notes that a rising middle class among a dense population base throughout the Latin American region provides tremendous potential for the industry to grow from an estimated 600 storage facilities operating today. “With so few facilities in comparison to such a large population (nearly 640 million in metropolitan areas throughout Latin America compared to U.S. population of 320 million), it is clear that the industry is seeking to find its place amongst the people,” the report states.
Analysts also discuss which nations are experiencing the most self-storage growth, current occupancy rates and pricing in the region, and operator expectations for rate increases in 2017. In addition, the report explores how operators are reaching consumers and the types of information they market. It also includes operator expectations for future business expansion and a market forecast.
The eight-page PDF is available as a free download from the Reports page of the ISS website.
Colliers International is a global commercial real estate services firm employing more than 16,000 professionals who operate out of 554 offices in 66 countries. The company offers a variety of services for investors, business owners and developers. These include consulting, market research, real estate intermediation for sale and rent, project management, property management, and valuation.
For more than 25 years, ISS has provided informational resources for the self-storage industry. Its educational offerings include ISS magazine, the annual ISS Expo, an extensive website, the ISS Store, and Self-Storage Talk, the industry’s largest online community.