As in all sectors, inflation has become a warning factor for the office real estate market, as this phenomenon impacts both absorption, rental prices, as well as the construction of new corporate spaces in the country.

During last September, general inflation registered an increase of 8.7% in its annual comparison, while the sub-indicator referring to construction materials presented a rise of 13.17% and thus linked 20 consecutive months with double-digit annual increases, according to the National Institute of Statistics and Geography (Inegi).

Check here: The recovery in the demand for offices in the country is imminent

“(Inflation) affects both inventory replacement costs and rental prices. In combination with the rhythm that the demand shows, it will encourage or not the developers in the start of new constructions”, indicated Solili.

According to a market report from the real estate platform, during the third quarter of 2022, only two buildings began work: One located in Guadalajara, with a profitable area of just over 11,000 square meters, and the other, in Monterrey, of 9,000 square meters.

The country's main market, Mexico City (CDMX), continues without reporting new buildings, as a result of the high numbers of vacant spaces. However, the developments that had begun their construction prior to the health crisis and that did not have changes in their land use, have entered the inventory.

From July to September 2022, 10 buildings were integrated nationwide, seven of them in the capital. It is worth mentioning that the gross demand at the national level, of the total of almost 270 thousand square meters of registered corporate spaces, 65% is concentrated in Mexico City.

Work activities are beginning to move to their face-to-face version, although not in its entirety, which has led to the reoccupation of spaces in the office sector little by little. In this sense, Solili highlights that the recovery trend will be consolidated in the remainder of 2022, with better expectations for next year.

Of interest: HCLTech inaugurates its sixth technology center in Guadalajara

On the other hand, the demand from emerging corporate markets, such as Mérida and León, continues and corresponds to the industrial investment that has settled in these entities during 2022, which, together with related services, seek to establish themselves in spaces in line for corporate performance.

According to Solili, these states show annual increases in rental prices of 7% and 16%, respectively, thanks to the push that industrial activities have created in their regions, as well as because they are markets where oversupply is not an element that worries people. the developers.

In Solili you can consult available offices in Querétaro and Tijuana

Original note