In the first four months of 2024, the accumulated demand for offices reached 270 thousand occupied square meters, consolidating Mexico City as the most relevant market in the country, absorbing 75% of the demand nationwide.

In April, the office sector experienced a significant increase in demand nationwide, registering a total of 73 thousand square meters occupied. This figure represents an increase of 87% compared to April of the previous year.

The country's capital and Monterrey remain the leaders in demand, reporting a total of 61 thousand and 8 thousand square meters leased, respectively, while the third position was occupied by the office market of Querétaro, which during the fourth month of the year reported a demand of 1.4 thousand square meters

During April 2024, move out activity experienced an increase, with a total of 69 thousand square meters. This figure is at levels comparable to demand, being only 4 thousand square meters below monthly occupancy.

The markets with the highest levels of move out activity were Mexico City and Monterrey, releasing a total of 54 thousand and 13 thousand square meters, respectively. It is important to highlight that Monterrey was the only market nationwide where unemployment exceeded monthly demand.

At the national level, the construction activity of corporate buildings reaches a figure of 1.2 million square meters in the development process. The country's main metropolises, such as Mexico City, Monterrey and Guadalajara, lead this trend, concentrating 59%, 18% and 7%, respectively, of the space under construction.

The vacancy rate of the office market nationwide is 17.7%. Puebla and Mexico City stand out as the markets with the highest rates, reaching 25.6% and 19.7% respectively. On the other hand, the city of Tijuana maintains the lowest vacancy percentage, with just 1.4%, followed by León, which by the end of the month registered a vacancy rate of 8.9%.

The average rental price nationwide was established at $20.10 USD per square meter per month. Standing out, Tijuana, as the market with the lowest vacancy rate in the country, has the highest prices, reaching $22.76 USD per square meter per month. The capital market follows closely, with a rental price of $21.00 USD per square meter per month.

León and Puebla continue to position themselves as the office markets with the most competitive prices nationwide, registering an average rental price of $12.48 and $14.49 USD per square meter, respectively.

The increase in demand during the month of April reflects a positive trend in commercial and business activity, which suggests that the interest on the part of companies in expanding their operations and establishing themselves in new locations in Mexican territory is still valid. The positive performance of the country's main urban centers highlights their attractiveness for companies looking for strategic locations and growth and investment opportunities in the office market.