2022 was a year of challenges for the office real estate sector which, as a result of the wave of unemployment derived from the Covid-19 pandemic, is going through a stage of reconfiguration and adaptation to new labor trends.

Despite being the hardest-hit real estate segment and which has not been able to reach the occupancy levels that were prior to the health crisis, there are some positive signs that arrived during the past year, along with a greater reactivation in the national economy.

Check here: Trend that will dominate the office real estate market in 2023

According to a report by the firm Solili, during the last quarter of last year, the office market registered a gross demand nationwide that exceeded 270,000 square meters, that is, an increase of 60% compared to the same period. of 2021.

Regarding the total accumulated demand for the year throughout the country, the figure was 882 thousand square meters, which represents an additional 73% when compared to what was registered in the twelve months of the previous year.

Regarding the three main markets in the country: Mexico City, Monterrey and Guadalajara, demand growth was 99%, 38% and 29%, respectively.

One of the options that the owners of the office buildings found to deal with unemployment was the conversion of spaces to housing, hospitals and schools, an option that was supported by the Government of Mexico City through facilities in process for change of land use and authorization of works.

Of interest: Solili Offices Report Q4 2022, demand recovered 85% compared to pre-pandemic years

Transforming a property of this type has been a challenge for the operators and owners of the properties, but it is expected that in 2023 some projects that opted for this modality will be able to mature, although they will have a greater challenge in the face of an inflationary scenario.

"Without a doubt we will be facing a more complex year in economic matters that will demand new formulas from developers to adapt their spaces to a changing demand," said Solili.

In Solili you can consult available offices in Polanco, Insurgentes y Santa Fe

Original note