The corporate market at the national level has been one of the most affected after the pandemic in part because demand did not grow at the same time as supply, thus generating a large number of spaces that entered the inventory unoccupied, and further increased the existing oversupply.

In Mexico City, prior to the pandemic, positive net demands were registered, the last reported being 111 thousand square meters at the end of 1Q 2020, when the ravages of the coming confinement were not yet fully reflected.

From there and motivated by the paralysis of non-essential activities, the vacancy and deliveries of spaces grew while the demand contracted in the face of an uncertain panorama of the evolution of infections, which brought the net figures at the national level to the ground negative.

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The situation continued until the end of Q3 2021, where it seemed that a turning point was approaching so that, at least in the capital, we would begin to see figures of a gradual recovery. For this reason, as of the third quarter of 2021, the national net demand manages to step on positive ground with just over 42 thousand square meters, which makes three consecutive quarters with positive figures.

Now, in the first quarter of 2022, the figure at the national level also continues in positive numbers, although it was significantly impacted by the unemployment registered in the country's capital.

The appearance of new variants and the rebound in cases in China has led the authorities of the Asian country to important closures of activities and confinements of urban areas, which has once again generated new challenges in meeting the deadline, of merchandise deliveries for the american countries.

When the composition of the national net demand for 1Q 2022 is analyzed, the recovery ratio corresponds more to the medium-sized corporate markets than to Mexico City itself. Puebla, Querétaro and Monterrey register positive net demand figures of 15.4, 9.5 and 7.5 thousand square meters, respectively, which influence the national result.

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In the case of the last quarter of 2021, the behavior of Mexico City with a positive demand figure of more than 67 thousand square meters was decisive for the national figure to close at just over 142 thousand square meters.

What is a fact is that the current situation associated with Covid has still slowed down many decisions by companies for their return, mainly in Mexico City, in the midst of an economy of high volatility and inflation that rationalizes operating costs. , including the rental of office space.

For this reason, even by the end of the second and third quarters of the year, the situation of recovery in demand will be the result of the evolution shown by the medium and emerging markets so that gross demand continues to exceed vacancies at the national level.