The outlook for the corporate sector in Mexico for 2025 looks challenging, driven by a series of changes that are transforming market behavior. The adoption of new strategies and the use of opportunities are positioned as crucial factors in the evolution of the sector for the rest of the year. On the other hand, the uncertainty generated by trade negotiations between Mexico and the United States could influence the expansion of companies and the arrival of new investments.

Given this scenario, the office market in Mexico reports an inventory of 17.5 million square meters in January 2025, which did not register increases, due to the fact that no new developments were incorporated into the corporate inventory during the month. Likewise, the office vacancy rate nationwide is 17.1%.

The office market in Mexico began 2025 with leasing activity of 46 thousand square meters in January. Mexico City, Monterrey and Guadalajara remained the main drivers of demand, with 72%, 10% and 9% of the total, respectively.

Office occupancy experienced a 60% decrease compared to January 2024, evidencing a weakening in demand in the corporate market.

Throughout the month, vacant office space reached 20 thousand square meters, reporting a moderate performance that remains below monthly demand. Mexico City accounted for most of the vacancies, with 70% of the total, followed by the Monterrey and Querétaro office markets, which contributed 20% and 10%, respectively.

The average office rental price nationwide stood at $20.11 USD/m²/month at the end of January 2025. In most markets, prices have remained unchanged, however, Monterrey, Querétaro and Puebla registered the largest increase in rental prices, with a 4% growth compared to January 2024.

Office construction in the country reached 1.3 million square meters of new corporate space. This volume remains stable and continues within the levels reported in January 2024. During the first month of 2025, no new office projects were started in the country.

The decrease in demand for offices in Mexico reflects a business environment defined by uncertainty and the redefinition of corporate strategies. Factors such as the global trade situation, tariff changes and the evolution of work models have led companies to evaluate decisions, adjust their spaces or reconsider leasing needs. This situation not only impacts the performance of demand in the office market, but also transforms the current scenario of the corporate sector, challenging developers and owners to adapt to the new conditions and demands of the sector.