As we already know, the government of Mexico City plans to authorize the change of land use of some properties for their conversion from offices to housing. So the question arises as to whether this will be profitable.

Diverse opinions are put on the table. Some believe that the conversion would be unlikely as the functionality of the office buildings is not compatible with the change to housing, such as drains and bathrooms, among others.

Thus, changes to other spaces are more likely, alternatively such as storage warehouse, rental of rooms for convivialities and business meetings, as well as individuals and families; gastronomic, academic and training centers.

Others believe that the success of the reconversions will depend on many factors, such as: the type of building, location and the use of the construction surface.

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Another factor to consider is the absorption of the market, if you want to preserve the equity focus (income) or the decision is a speculative business (sale). So in some cases it may be more profitable and in others it may just be a matter of maximizing.

The type of project that you want to undertake in the conversion will dictate the return time.

If the office scheme continues, and under the scenario of high unemployment combined with a decrease in demand, it is likely that we will see price adjustments, according to the opinion of Rodrigo Guízar Gutiérrez, from Quality Inmobiliaria México.

If the use will continue to be that of offices when new needs arise, this leads companies to develop greater creativity. New coworking style needs or executive boardrooms to serve clients or prospects outside your home, will motivate the change in the purpose of the spaces.

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The owners of these readjusting offices have to incorporate more competitive costs and make the services they offer more attractive. Likewise, they must provide innovative mechanisms that provide security and confidence in health and protection protocols, that is, a reengineering of use.

The owners who are not within institutional rents were the most affected and those who least have the capacity to cope with such changing times. For this reason, the situation has led them to offer discounts of up to 25%, to rethink a conversion to a home or even to sell the property.

In Solili check availability of offices in Insurgentes, Santa Fe and Polanco

Original note