As the economic recovery progresses, the office real estate market is also showing positive signs and, in addition, changes in trends compared to how it behaved before the coronavirus pandemic.

According to an analysis by the Solili firm, during 2021 the demand for offices at the national level closed with a figure of 543 thousand square meters (m2), that is, an increase of almost 21% compared to what was registered in 2020, when the full pandemic effect.

According to the real estate information firm, this recovery in the demand for office spaces is due to the strong push in markets such as Guadalajara, Querétaro, Tijuana y Monterrey. 

"(A) phenomenon that stood out in 2021, in addition to the oversupply that some markets exhibit, was the brake on new construction that has been a counterweight so that the average rental price will not adjust further downwards," Solili said in your analysis.

Check here: Where is the demand for offices in the country going?

In this context, the firm indicated that there has been a disparate demand according to the type of company.

Cases such as small companies and startups, which had the need to grow their operation, sought to be more efficient in terms of resources, so teleworking and the use of coworking properties, as well as spaces on demand, are the options they are betting on. these types of organizations.

If it is about medium-sized companies, these organizations could previously occupy half a floor, now with the need to optimize their resources, they orient the use of offices for the central part of their operation, so they occupy smaller surfaces with a more rational occupation , under the hybrid work scheme.

In turn, the large corporations, after the strong impact of the pandemic, reoriented and adapted their offices with an emphasis on multipurpose and collaborative spaces, where the surfaces were designed with a greater amount of area per employee under the premise that part of the staff would not be in person every day of the week.

"This coordination of work seeks to generate less incidence of people in the spaces in order to comply with health and sanitization guidelines," Solili said.

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For the firm, the issue of the recovery of the office real estate market must still be viewed with caution, at least in the expected results for the first quarter of the year; however, it is expected that throughout 2022, the unemployment gap will decrease, in line with the results of 2021.

Likewise, the firm indicated that in terms of construction start-up, this activity will still be waiting for the market to recover, with the exception of some emerging markets and on specific corridors of great desirability where some multipurpose projects will begin and in formats smaller than the 5 thousand square meters of net profitable area.

In Solili you can consult available offices in Mexico City and Mérida

Original note