Average office rental prices have remained stable in the country's main corporate markets over the last year, with slight increases of 0.6% reported in Mexico City and 0.3% in Monterrey. However, other markets such as León, Querétaro and Tijuana have seen significant upward adjustments of 11.7%, 7.8% and 6.9%, respectively.

The country's capital, where 70% of the national office inventory is located, manages to maintain 72% of the national accumulated demand, which reaches 936 thousand square meters of offices, between January and October 2022.

Of interest: Accumulated industrial demand in Bajio reaches 880 thousand m² over the course of the year

In Mexico City the average rental price is $21.20 dollars per square meter monthly and among the corridors that are above the average we have Lomas Palmas, Bosques, Polanco and Reforma with $27.00, $22.70, $23.40 and $22.00 dollars per square meter monthly. The North and South Periférico submarkets maintain more competitive rental prices below the capital's average with $17.10 and $20.50 dollars per monthly square meter, respectively.

In the case of Monterrey, gross corporate demand accumulates 99 thousand square meters, between January and October 2023, reporting an increase compared to the same period in 2022 that exceeds 40%. This figure in the midst of a current vacancy of 14.1% has allowed a stabilization of rents that favors the gradual absorption of the inventories that are being finalized and composing the supply of available spaces.

Currently, the Monterrey market has a wide range of options in sizes and finishes, ranging from small spaces of 50 square meters to complete floors of 800 to 1,200 square meters, or several adjoining floors for a total of 18.5 thousand square meters. in the same Class A building, located on the Santa Maria submarket.

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Tijuana and Querétaro, which register the highest percentages of annual increases in office rental prices, report $21.20 and $14.90 dollars per monthly square meter, respectively. In the case of Tijuana, the average rent is well representative of the three csubmarkets such as Via Rapida, Agua Caliente and Zona Rio, which maintain very similar prices.

For its part, Querétaro, the average rental price of the corridors of the 5 de Febrero and Juriquilla submarkets are above $16.00 dollars per square meter per month, a value above the average rental price of $14.10 dollars per square meter per month. While the Constituciónntes corridor maintains the most competitive rent in this market with $10.50 dollars per square meter per month.