The corporate market at the national level has been overcoming the difficulties left behind by the pandemic. Querétaro is the fourth corporate market nationwide in terms of inventory size, and has managed to accumulate a gross demand in the 11 months elapsed from 2022 of more than 27,000 square meters, a figure that is 93% higher than that registered in the same months of 2021.

Like the rest of Mexican cities, the return to the offices in Querétaro is a fact, as well as the transformation that companies and workers have undergone to generate a new labor model that is characterized by a combination of remote and face-to-face work. 

Consult here: Reconversion of offices must overcome the structural challenge

This modality affects the size, facilities and facilities that companies now demand, where some may currently require less space but with higher connectivity, infrastructure and location conditions than those previously available.

In the search to increase productivity and retain human resources that share the same corporate values, companies have innovated and been willing to explore new locations in the wide range of options that this market had available.

New constructions have been slowed down, with a behavior similar to that observed in the rest of the corporate markets nationwide, and currently in Querétaro, 26,000 square meters of projects that had started prior to the pandemic continue to be executed.

For its part, the vacancy that had reached its maximum percentage in April 2021 with 23.4% has been adjusted downward to 16.9%, at the end of November 2022. The level currently reached by vacancy in this market is very close to that observed in months prior to the pandemic.

Of interest: Advance demand for offices in 2023 could encourage construction

The total currently available is 117,000 square meters, with sizes from 40 square meters to the possibility of renting an entire building for 9.3 thousand square meters, where there is the opportunity to occupy a single standard floor from 1.1 thousand square meters. .

The geographical distribution of the vacancy is located on a large part of the corridors, highlighting Centro Sur, Juriquilla, Bernardo Quintana and 5 de Febrero that group 93% of the vacant spaces, each of them with available spaces between 18 and 35 thousand meters squares.

If the trend observed during 2022 continues with the gradual recovery in demand and the decrease in vacancy, we could anticipate 2023 with stable office rental prices around $14.0 dollars per monthly square meter.