One year after the measures implemented by various companies to reverse the contagion of Covid-19, the Mexican office sector maintains the effects of this crisis, as many companies have chosen to reduce, sublet and in some cases close complements their Workplace.

This has directly impacted the largest corporate markets nationwide such as Mexico City, Guadalajara and Monterrey.

During 2Q2021, the gross demand in offices in Mexico maintained a volume slightly lower than that of 1Q2021, but 10% above the same period of 2020, according to information from Solili.

It may interest you: Wework records recovery due to return to offices

This means that demand shows an upward trend, at least in April, May and June compared to the same months of the previous year, which was when the effects of the pandemic were felt the strongest.

The completed developments added only 1% to the national inventory and almost 5% annually; values much lower than those reached in previous years, which were between 8 and 10%, Solili said in his report.

Likewise, in 2Q2021, the new offer in offices in Mexico was just over 100,000 square meters (m2), concentrating 80% in Mexico City and Guadalajara.

We recommend: Hermosillo presents verticalization and development in the real estate sector

Situation of the offices in Mexico

Mexico City: The rental price increased 10 cents on the dollar compared to 1Q2021 and 61 cents on the dollar compared to last year.

The start of new works for corporate buildings has been nil, in 2Q2021, "only 15 thousand m2 started construction, which shows that developers have projects still stopped and in the planning phase."

Also, Solili explained that the trends in design, location and volumes that were considered before the pandemic have changed.

In addition to this, it has been a quarter where many concept evaluations have been carried out, in addition to the fact that the Government of Mexico City gave permission to convert some office buildings into homes.

Monterrey has a highly developed corporate real estate market, the Valle Oriente submarket is one of the most available. Enter Solili and learn about the options for sale or rent in emblematic buildings of the city.

Read the complete article