The office market in Querétaro is characterized by moderate growth in corporate inventory and demand that is showing signs of a slowdown. By the end of the third quarter of 2026, office inventory reached 749,000 square meters, representing an annual growth rate of 2.2%.

During the first nine months of 2026, gross office demand totaled 23,000 square meters—a 16% decrease compared to the same period in 2025. This slowdown was also evident in the third quarter, which saw 4,000 square meters in demand—approximately 62% less than in the same period the previous year.

Of interest: Office Market Report: Solili | Third Quarter 2026

The vacancy rate has remained relatively stable over the last two years. At the end of September, it stood at 12.1%—one of the highest rates in the country, trailing only Puebla (18.8%), Mexico City (16.4%), and Mérida (15.0%). Despite the moderate pace of demand, the amount of vacant space decreased over the past year, and the vacancy rate fell by 1.6 percentage points.

Among the major corporate corridors, Centro Sur recorded the highest vacancy rate at the end of September, at 20.0%, followed by Bernardo Quintana at 12.0% and 5 de Febrero at 9.1%. In contrast, Constituyentes had the lowest rate, at 2.7%, followed by Juriquilla at 4.7%.

Juriquilla has established itself as a key development hub in northern Querétaro, integrating residential areas, shopping centers, educational institutions, and corporate spaces. Its connectivity to the metropolitan area’s main thoroughfares, combined with a diverse range of services, enhances its appeal as a location for both companies and professionals.

At the end of the third quarter of 2026, Juriquilla recorded a vacancy rate of 4.7%—well below the Querétaro market average of 12.1%. Of the vacant space in this corridor, 93% consisted of Class A offices, while 7% comprised Class B spaces. Regarding rental rates, the average for the Querétaro corporate market reached $16.44 USD/m²/month, representing a 4.3% year-over-year increase. Juriquilla emerged as the corridor with the highest rents, averaging $19.08 USD/m²/month, followed by Bernardo Quintana at $17.51 USD/m²/month.

See here: Office demand in Guadalajara grew by 50% during July–August 2026.

As of the end of September, Querétaro has 55,000 square meters of corporate space under construction. Juriquilla accounts for nearly 75% of this total, positioning it as the corridor with the most significant projected expansion and reinforcing its importance within the city’s corporate market. Overall, the corporate market in Querétaro maintains a positive development outlook, supported by its consolidation as a business destination and the evolution of its key corridors. However, future growth will depend on the expansion of available space aligning with the needs of companies, and on demand remaining sufficiently dynamic to drive the occupancy of these new spaces.