At the end of the third quarter of 2022, the growth trend in gross demand for office spaces at the national level continues, which had been advancing slowly at first, but already shows an upward trajectory that has been maintained continuously in the last four years. quarters.

If we analyze the national corporate demand, between January and September 2022, the growth in the period is 80% due to the speed of increase in demand will be greater, as indicated by the annual comparison of the third quarter of the year that doubles what was registered in the third quarter of 2021.

It is a fact that the home office modality, at least in its full time format, has ceased to be an advantage for companies, which has been accompanied by multiple demands from workers in search of face-to-face participation mechanisms and activities. that avoid the social isolation experienced since the pandemic.

Check here: CDMX corporate gross demand continues to rise as of 3Q2022

Mexico City is the market where this phenomenon is most marked, since the growth of quarterly gross demand was almost 160%, while that accumulated between January and September was 104%.

Monterrey kept demand stable during 3Q 2022, however, if the accumulated figure for the first nine months of the year is reviewed, growth has been almost a third compared to 2021. Querétaro, for its part, has also managed to recover demand by 60%. accumulated of the first nine months of the year, so far in 2022.

In the case of emerging markets such as León and Mérida, we also observed incremental demands for corporate real estate, registering growth of 128% and 33% in the annual comparison from January to September.

Of interest: Solili Offices Report Q3 2022, vacancy decreases, demand on track to report pre-pandemic figures

A preference has also been observed in general terms towards already conditioned spaces, mainly in Mexico City, which indicates that even the uncertainty determines that the investment time horizon leans more towards the medium term than towards the long term.

Let us remember that prior to the pandemic, the main companies that demanded spaces visualized longer contracting periods for their rents, which, by exceeding 3 years, allowed not only to model the space with the corporate culture, but also for that investment to be amortized during the term of the contract. 

Currently, factors such as the flexibility of terms that allow expansions and contractions as the commercial operation develops and the possibility of being able to use more than one building are privileged.

For these reasons, coworking spaces have modified their original formats, becoming more flexible, making room for companies of various sizes, positioning themselves as a lever that has also activated demand in recent quarters. The remainder of 2022 and 2023 will be a period where more and more available spaces fill up, causing vacancies to adjust downward and thus creating the scenario where developers once again see the start of new projects.