The main Mexican capitals had a complex year in terms of the absorption of corporate markets, which was affected by changes in demand resulting from a mixture of the preference for the home office and the adoption of the hybrid model that combines face-to-face work with the work online, in all or part of the days of the week.

This formula sought three aspects, the first to maintain the health guidelines that controlled the capacity to preserve the health of the worker, the second to provide a space for freedom and creativity in the face of the overwhelm that some workers expressed from working online. And, finally, the important cost optimization that the use of smaller spaces would generate for companies in the medium term.

The final results as of December 2021 show that the main markets such as Ciudad de México, Monterrey y Guadalajara, which have 94% of the national inventory, were still going to close the year with a significant oversupply, above 20%.

Check here: CDMX registers a 15% increase in demand during 4T2021

However, those that we could call emerging cities in relation to their offer of offices, such as Tijuana, León y Mérida, showed more balanced figures of oversupply with 9%, 7.7% and 14.9%, respectively.

Let's begin to analyze Tijuana, which has been one of the most resilient corporate markets in the face of this crisis, with an inventory of almost 268 thousand square meters, has managed to maintain an average rental price with an annual variation of 1.8% in 2021 to close with $19.56 dollars per square meter per month.

It is the only market at the national level that has shown a constant positive net absorption, close to 5 thousand quarterly square meters, where vacancies have been under control and do not exceed the constant demand that was maintained during 2021.

León, which is the benchmark corporate seat along with Querétaro, for the Bajío area, shows the lowest vacancy at the national level and has spun two consecutive quarters with a positive net absorption, which during the last quarter of the year reached almost 28 thousand square meters.

Among the advantages that this emerging market offers is its rental price of 9.47 dollars per square meter per month, well below the national average.

Finally, Mérida has been another interesting market driven by the interest of foreign capitals who have seen in the home office the possibility of establishing themselves in other communities other than their original places but with a wide recreational offer, which combines a sun destination with quality of life.

Of interest: 2021, an atypical year that left historical demands for industrial space

During the 4Q of 2021, both spaces for sale and pre-sales were within the market interest above rent, although the size of the average measure of rented spaces increased to 44 square meters, compared to the previous period.

This 2022, the developers of these important emerging cities will have the opportunity to anticipate a slight rebound in demand that is expected in the middle of the year, as long as they continue to strengthen the guidelines for a safe return to the offices.