The real estate market for class A and B offices in Mérida has maintained the preference of national and foreign investors during the second quarter of 2021, this was reflected in the demand indicators, average rental price, vacancy and announcement of new projects.

As a result of the good management of the pandemic in the state of Yucatan by the government, the arrival of greater investment capital continued, for example, the inauguration of the Tesla sales center, the fourth nationwide after the three metropolitan areas most important in the country; along with the installation of Walmart and Amazon in the industrial zone last year.

Marketers perceived greater agility in terms of procedures and processes compared to last year in the midst of the pandemic, which has helped to complete more projects in the city such as the second office tower of the Vía Montejo and Armorán Country complex; This also shows the great acceptance that the corporate real estate sector has also had in Yucatan.

Of interest: Capital government seeks to detonate construction with emerging shares

They foresee a panorama of development in the city both horizontally and vertically, with expectations towards greater profitability of offices and clinics in some cases, which is why they estimate that the combination of several uses within the same development will increase in the coming years.

Among the aspects in common within the opinions is the construction of the United States Embassy in Mérida, which has generated the interest of more foreign companies and especially Americans to place their offices here, because the state will position itself as a point of reference for business.

It is worth mentioning that there is a project to build the World Trade Center where there will be an office tower and that works are expected to begin by the end of this year or the beginning of 2022.

Regarding construction, important advances are maintained in current developments, although buildings were not delivered for this quarter, however most already have less than 50% availability to buy.

See also: Demand for Tijuana offices is at pre-pandemic levels

The trend in this market is towards rent once the works for those who acquired in pre-sale are completed. It is estimated that around 11 thousand square meters will begin construction in the next three months.

Gross absorption, according to Solili figures, reached 16% more than last quarter with similar proportions in sales and rental of spaces. On average, the requested area was 142 square meters, which means that the amount of area increased compared to 1Q 2021.

Among the main characteristics is the delivery condition where gray work and furnished offices stand out, largely within existing buildings.

The net absorption was positive again as in the first quarter, although the figure was lower with 966 square meters. In both types of absorption, the Boulevard García Lavín submarket stands out, which is the most dynamic within the market in the city.

The average rental price showed a 9.3% rebound in relation to the value of 1Q 2021 and a slight decrease of 0.8% to the figure of last month. Mérida was placed in the fourth highest price nationally only behind Tijuana, Guadalajara and Mexico City.