When reviewing the oversupply of offices in the country's capital, it stands at 22.51% at the end of August 2022. The trajectory in this indicator during the months prior to February 2022 continued to show upward adjustments, but as of that month the trend has been in the opposite direction, noting that downward adjustments are now common, although they have been moderate.

There are multiple reasons that affect the vacancy, although the fact that new buildings have not been started in periods after the pandemic has been an incentive not to continue increasing the oversupply.

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What has been an element that increased it are the deliveries of buildings that have been culminating in projects that began before the pandemic and that group nearly 780 thousand square meters that have increased the inventory between March 2019 and August 2022 .

Although it is true that oversupply continues to be one of the characteristics of this market at a general level, not all submarkets in the capital have had the same behavior and let us remember that different realities can coexist on average. Such is the case of the minimum vacancy that we observed in August 2022 in Bosques and Periférico Sur with 74 and 155 thousand square meters.

Bosques is located to the south-west of the Bosque de Chapultepec and is a corporate area developed in the middle of a high-income residential single-family neighborhood where buildings of 5 to 6 levels predominate and are developed within a medium population density. No oversupply is observed on this submarket since the vacancy is around 16.5>#/p###

On the contrary, the neighboring Santa Fe submarket, built later, houses emblematic high-rise buildings, which not only exceed Bosques in terms of inventory, but also in terms of vacancy, which is around 18.10%.

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In the capital, the highest absolute vacancies occur in the North submarket with 466 thousand square meters, followed by Polanco and Insurgentes with 458 and 426 thousand square meters, respectively.

For its part, Periférico Sur is developed on the Anillo Periferico road and is located to the south-west of the city where it concentrates 8% of the capital's inventory and is another submarket where there is no excess supply since its average vacancy is 16.5%.

On some occasions there may be a correlation between the vacancy indicators and the average rental prices and in this case at the end of 2Q 2022 the average rent of Bosques and Periferico Sur closed at $23.48 and $20.87 dollars per monthly square meter.