The expectation for the office real estate sector for 2023 moves between opposing forces. On the one hand, there is an offer for the next five years and investors could take several months to make the decision to buy or rent corporate spaces given the possible recession in the United States, according to Colliers analysts in Mexico.

On the other hand, the constant arrival of Foreign Direct Investment to the state requires offices, Sergio Resendez, general director of Colliers' Monterrey office, told El Economista.

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

The office market comes from very high availability during the pandemic, he said.

Branches will be hit by this recession because they will seek to conserve cash to have liquidity, and reduce financing, due to the constant increase in interest rates.

"We have office products for the next five years, the recovery of the sector will take time, because it implies investment and it will take a few months for the possible recession in the United States to pass and demand to increase," he said.

On the other hand, he explained that the costs of construction materials are affecting developers and builders due to high inflation.

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In turn, the consultancy Solili foresees a sustained recovery for 2023 that it estimates will continue quarter by quarter in the corporate market, especially in Monterrey, where during three quarters of 2022 it reached a similar level of demand to the period prior to the pandemic.

"It has been the only market nationwide where a construction project began in 2022, which could be maintained in 2023, with an average vacancy of 16.2 percent," Solili said.

In Solili you can consult available offices in Mexico City and Guadalajara

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