At the end of the second quarter of the year, the inventory of offices in the Mexican capital stood at 11.4 million square meters, of which 65% corresponds to class A. 

Of the total construction in progress, which amounts to 936.7 thousand square meters, the 95% are Class A, indicating the increase that Class A buildings will have in inventories and spaces available for rent.

The developers have continued their corporate commitment to high-quality constructive spaces with floors greater than 800 square meters, emblematic facades, and endowments and facilities such as elevators, air conditioning systems, hydropneumatics that have been adapting to a new way of operating than the new ones. occupants sue.

The oversupply reached by the capital increased by 1.1% in quarterly terms and by 6.6% in annual terms, totaling 2.37 million vacant square meters. But even in this scenario, rental prices have remained relatively stable and have even risen in some markets.

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For example, Mexico City reflects a quarterly increase of 10 cents on the dollar and an annual increase of 61 cents on the dollar, with a unit price of $ 21.40 per square meter per month.

Monterrey, the second largest company in the country, registered an average rental price of $ 18.90 per square meter per month, which represents an increase of 90 cents compared to 1Q 2021 and 2.58 cents compared to the same period of the previous year.

Now, the gross demand of Mexico City in the first semester 2021 was 130.5 thousand square meters and reflected a significant contraction compared to the first semester of 2020, of 45%, a period in which the effects of the pandemic were beginning to show.

The fact that prices did not fall and would rather adjust upward even with this contraction in demand indicates that the offices that were occupied correspond to more modern projects or with more endowments than those traded in previous periods, although they correspond to a smaller quantity of square meters.

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The pandemic has created the need to generate a large laboratory of ideas where the projects that will absorb the demand will be those that manage to recreate spaces that allow tenants to maintain their institutional role, highlighting their brand elements and corporate culture, as well as the design internally managed to capture the most productive dynamics in each organization, where workers reach the necessary levels of productivity without sacrificing the balance of their work time.

Broadly speaking, the changes of internal configuration where about 40% will be dedicated to personal work offices, between 30% -40% to spaces where collaborative, creative and socialization tasks are developed and another 20% -30% to informal spaces, will have effect on costs and therefore on the prices that the market will adjust.

Those developers who manage to incorporate the new elements that the pandemic demands, such as: access elements with retina or fingerprint scanners to guarantee access in temperature and security conditions, elevators that evolve with voice commands and all the technology applied to spaces shared work areas, facades that regulate light and temperature will be a step forward to close your rental operations.