Over the course of 2024, office vacancy in Querétaro has reported a downward trend. In August 2023, the vacancy rate stood at 14.2%, while at the end of the same month but this year, the indicator stood at 11.7%, with a decrease of 2.5 percentage points.

This fact is mainly due to the behavior of demand, with nearly 21 thousand square meters rented in the last year, reporting a low5% level of vacancies, which did not exceed 3 thousand square meters.

Of interest: Office vacancy rate in Guadalajara drops to 10.6%

The Centro Sur submarket, one of the most important in Querétaro, has been the area with the greatest activity in terms of leasing in the last year with 7 thousand square meters occupied, highlighting the case of Corporativo BQ which no longer has available spaces. In turn, it presented around 700 square meters in vacancies, which reduced its vacancy by 3 percentage points which remains at 14.78%.

On the other hand, the Juriquilla submarket has presented a decrease in the offer from 16.1% that it had in August 2023 to 11.6% to date. It is the second that obtained the highest demand figure and where the transactions of Querétaro Business Park Torre II and Centro Capital stood out, a building that reports 100% occupancy.

Check here: Solili Office Report August 2024: accumulated demand for offices exceeds half a million m²

One of the factors to consider in the decrease in the supply of offices in this market is that since February 2023, only 26 thousand square meters of newly opened buildings have been added to the inventory to provide a new supply of spaces, a figure lower than that which had been presented in previous periods. Likewise, construction has remained with little activity around 35 thousand square meters, of which only one building with 7 thousand square meters of net rentable area is expected to be completed this year.