The office rental sector is slowly recovering: Colliers

In the global economic landscape, the International Monetary Fund projects that the world economy will grow 2.8% in 2022, forecasting that the Covid-19 eventually become an endemic disease, bringing with it the withdrawal of the emergency fiscal and monetary stimuli that were pillars for the start of the economic rebound in 2021.

With regard to the panorama of the office rental sector, this remains uncertain, companies are still evaluating the need to have a space 100% dedicated to their activities in corporate buildings and the trend towards a more hybrid activity is growing.

In accordance with Colliers At the end of the first quarter of 2022, the Mexico City office market registered a total inventory of 7.2 million square meters of Class A+ and A spaces and has reported an annual growth rate of 3% from 2021 to 2022.

Likewise, the availability rate registered in all the submarkets was 1.8 million square meters, that is, 25.6% of the total inventory.

It should be noted that the most active submarket was Insurgentes. This reported 27,000 square meters in accumulated activity, details Colliers.

As for the demand of the activity accumulated at the end of the first quarter of 2022, it was 90,000 square meters. This figure was 23% higher compared to the first quarter of 2021.

Finally, regarding the starting prices, the company pointed out that the average monthly rent was between 15 and 42 dollars per square meter for Class A+ and A buildings.

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