Already beginning the last quarter of 2022, the situation of the return to work has reached its equilibrium both in Mexico and in the rest of the world's cities.

The corporate activities that could be established through remote work saw a fantastic opportunity to demonstrate that various companies could do without having a real estate as their headquarters since the technology and processes that were established allowed to guarantee that the businesses work well without sacrificing their productivity, This group is made up of companies with a high technological content and that corresponds to the medium or small size of some startups.

The rest of the companies, which constitute the vast majority, do currently have a physical headquarters for the development of work that, although they do not have the same areas that they had before the pandemic, maintain attendance at a workplace where the staff You can reach agreements for a semi-presential job, if your work allows it,

If we compare gross corporate demand for the first three quarters of 2022, it is 80% higher than that recorded between January and September 2021. Although the recovery has been gradual, it has been sustained over time and the vacancies that affected demand seem to have been left behind.

During the month of October, just over 45,000 square meters of gross corporate demand were registered at the national level, where the main participation falls on Mexico City and Monterrey, with 27 and 14,000 square meters, respectively.

Mexico City distributes gross demand across a large number of its submarkets, but as in previous periods, Polanco, Insurgentes and Reforma account for nearly 60% of absorption. The trend towards a slowdown in vacancy continues and closes October 2022 with 22.5%.

During the closing of the third quarter of the year, marketers in Monterrey had already shown their optimism because even with a significant presence of the hybrid work model, gross absorption achieved a recovery of 14% compared to the second quarter of 2022.

Although during the month that has just ended, no corporate buildings were completed at the national level, an important figure of new construction was registered in Monterrey for 43 thousand square meters and that corresponds to a single building that is developed on the Centro submarket, a sign of the interest that certain corporate markets still hold.

In the case of Monterrey, purchases and rentals favor demand in equal parts, while Guadalajara shows a greater inclination towards rentals of conditioned spaces, as registered in 3Q 2022. This corporate market continues to maintain a rental price level of $17.8 dollars per monthly square meter in the midst of a vacancy that tends to a greater adjustment closing October 2022 with 16.4%, a significant downward adjustment with more than 5.4 percentage points.

The remainder of 2022 could benefit markets such as Monterrey and Guadalajara that are undergoing a major industrial boom that will therefore also require corporate spaces in line with the demand that is coming.