Strong demand for data center capacity and a lack of available power in many key markets globally are keeping vacancies low and pushing rents up despite robust construction activity, according to a new report from CBRE.
CBRE’s first Global Data Centre Report analyzes key variables, such as total inventory; vacancy rates; net absorption; pricing and rental rates; and availability in established and emerging markets across North America, Europe, Asia Pacific and Latin America.
Despite strong near-term market fundamentals, power-supply constraints could limit or delay development in markets such as Frankfurt. However, such constraints are fueling demand in emerging markets where power is available, such as Milan. As a result, the total capacity of Milan is projected to almost double from Q1 2023 to Q4 2024 in the city, according to the research.
Data center inventory continues to climb in many markets despite power and land constraints. In the European m