2022 was a year of reinvention for offices, which brought with it an increase in demand and a decrease in vacancy. On this set, Solili estimates that corporate construction could be reactivated in mid-2023.

As a first point, in November the Guadalajara office market managed to break the 15% vacancy barrier. With this market, it is likely that at the beginning of the current year Monterrey y Querétaro will exceed this threshold.

Check here: What can be expected from the office real estate market for 2023?

This scenario would open the way to corporate construction, which could be glimpsed on very active corridors and with medium-sized buildings that can take advantage of the demand that seeks modern spaces. However, as previously mentioned in other articles, care for the environment will continue as a priority during 2023, so the new spaces must meet the necessary criteria.

Added to this, coworking will maintain its stimulus through subleasing, but it will face a more complex year in economic matters. Therefore, developers are expected to reinvent their formulas to adapt their spaces to a changing demand.

On the other hand, the reconversion of spaces will meet the maturation time necessary for the launch of projects. Despite this, it will face the challenge of inflation.

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In this sense, it will be necessary to maintain flexibility in corporate leasing, both on the operational and financial side. Therefore, it is expected that the tenants will maintain an advantage in the negotiation.

At the end of 2022, construction projects stood at over 1 million 300,000 square meters (m2). Of the total m2 that advanced, 62% was concentrated in the capital of the country, however, this process began to decrease throughout the previous year. However, the decrease in corporate construction has not yet had a noticeable impact on vacancy.

In Solili you can consult industrial warehouses available in Mexico City and Guadalajara 

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