During the first quarter of 2022, the gross demand of the office market in Mérida remained above three thousand square meters, while the construction of 3.8 thousand square meters of corporate spaces began, according to data from the Solili platform.

Currently, the Yucatecan capital advances with a positive net absorption that exceeds 2.8 thousand square meters. This in the midst of a rising rental price that increased 6% so far this year.

Solili highlighted that a phenomenon that has occurred in emerging markets, such as the White City, has been the participation of mixed-use projects.

"The residential-office and office-retail combination on the ground floor has been the trigger for construction and leasing activity in the last three quarters."

Check here: Emerging office markets report improvement in demand

On the other hand, it has benefited from the rise of tourist cities among workers, who saw the opportunity to carry out their work activities from these places due to the implementation of the home office during the Covid-19 pandemic.

However, this trend is recent and the office market is still in the development stage. Roberto Serrano, from Sky Capital, pointed out that, 18 months ago, 91% of all corporations in the city were installed in a single room.

He explained that 89% of the companies in the region are SMEs, which do not require large spaces. Although they must take into account that they pay more than double when maintaining a property not specifically designed for this purpose.

In the context of emerging markets, León has managed to absorb part of the industrial dynamism that manufacturing attracts in Bajío and registers a gross demand for office space of 3.1 thousand square meters.

Of interest: Offices remain vacant although rent increases

In addition, the sector is in the midst of a rental price escalation that registered almost $15 per square meter per month, an increase of 60% so far this year. Thus, it maintains the lowest rental price at the national level, according to Solili.

For its part, Tijuana reached two thousand square meters of gross absorption and, although some vacancies were registered, it is the only city with single-digit vacancy figures.

“In general terms and in the face of a growing inflation scenario, these markets have been conservative in generating a supply correlated with potential demand, which has been a key factor in avoiding an abrupt decrease in the rental price,” the platform pointed out.

In Solili you can consult offices in Ciudad de México y Guadalajara

Original note