In-person attendance returned to the offices in 2022 after two years of confinement and with it the demand for spaces increased gradually. Given this, companies are already beginning to prepare their pockets for the construction of new administrative headquarters to bring together collaborators in a single space.
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According to the most recent Newmark report, Colombia is not far behind, and in an exhaustive analysis of costs, it placed it in third place as one of the countries in the region with the lowest expenses in office construction, with a price of US$1,073.00 per square meter. It is worth clarifying that the Latin American average is US$1,210.77.
In the case of an efficient office, the square meter of construction will cost about US$715 in the country. However, in Argentina and Brazil it is much cheaper with prices starting at US$637.65 and US$567.82 respectively. Above the average of US$810.12 are countries such as Guatemala (US$815) and Chile (US$985.58).
In this type of office the optimization of spaces prevails, For this reason, wood, glass or paint coatings will predominate in this category, with simple furniture and some hanging lamps that will be a trend for 2023 in terms of design.
As efficiency is sought, in the balance of weights, the ‘soft costs’ are higher than in the other categories, weighing 17% in the total loadl, that is to say, that in the construction of such an office, architectural and design fees, permits and post-construction soft costs, will weigh more.
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In the case of ‘strong costs’, that is, those that include construction materials, landscaping costs and interior materialsr have a weight of 63%. Regarding furniture, great luxuries are not sought, but to complement meeting rooms, waiting rooms or receptions with the most necessary and appropriate furniture for this purpose, which is why they weigh 20% of the expenses.
However, if what you are looking for is an intermediate point between low budget and premium officesstandard spaces will be a good choice.
In this category, offices with the lowest value is Brazil with a price per square meter of construction of US$877.00, followed by Argentina with a price of US$945.00 and Colombia with US$962.00. The region’s average is US$1,120.41 per square meter and five out of nine countries analyzed are above the average, with prices of US$1,328 per square meter, as in Guatemala.
In this case, ‘soft costs’ drop from 17% (efficient) to 12%, ‘hard costs’ continue to be 63%and with the difference, furniture ends up being more important in the chain, weighing 25% of the total paid.
With this increase, among the trends for 2023, special furniture, lighting with unique designs, receptions with wood and glass finishes, and broadloom rugs will predominate.
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If the budget is higher, lhe premium offices promise to provide unique experiences through luxury. In this case, prices are in a range between US$1,234 to US$2,334 per square meter depending on the city, once again Brazil being the cheapest place to build and Guatemala the most expensive. In the case of Colombia, the average price per square meter is close to US$1,524.00, ranking fourth after Brazil, Argentina and Chile.
Regarding the latter, it is important to highlight that the difference between the standard and premium category, the economic gap is much narrower than in other countries in the region.
In this class, unlike others, furniture occupies a third of the expenses, lowering the weight of ‘strong costs’ to 58% and ‘soft costs’ to 12% of the total weight. With a larger budget, furniture is the central theme of these offices.
In the reception case will be customized with integrated lightingdouble-glazed facades, automatic controls and stone floors and walls, providing an experience.
Paula Galeano Balaguera
