The vacancy rate in Mexico City has reported an annual decrease, although this market occupies the second position in terms of the highest percentage of vacancies, with 19.75%.

Of interest: Valle Oriente corporate submarket leads office demand in the month of July 2024

Compared to the previous year, office vacancy in Mexico City has decreased by 1.47 percentage points. This suggests that demand continues to grow, making the offer more attractive. We could anticipate an increase in prices and greater competition in this office market.

The Northern submarket stands out for the increase it has had in its absorption of offices throughout this first and second quarter of the year after a period of low activity and currently has a vacancy of 30.95 percentage points and a starting price of $17.39 dollars per square meter, which is within the range of the national average.

See here: Puebla's office market has new corporate developments in the pipeline

This encourages continuity in real estate developments that are currently under construction and it is very likely that projects that are currently in planned status will begin in this second half of the year

The trend of adjustments in the office spaces currently offered continues, driven by market needs, since those that do not meet the expectations or standards sought by tenants could remain empty even in a market with high demand.