Querétaro is one of the most important cities in the Bajío based on its degree of comprehensive development of sectors such as housing, retail, offices and industry.

Regarding its industrial capacity, it competes hand in hand with Guanajuato, but in reference to the corporate market it far exceeds the rest of the cities in the region, which allows it to position itself in the fourth position at the national level, with its 406 thousand meters squares of inventory at the close of 1Q 2021.

In the city there are four projects under construction with net profitable areas between 10 and 26 thousand square meters that represent almost half of what is built, 36% are projects whose surfaces range from 5 thousand to 10 thousand square meters and the remainder corresponds to small formats below 5 thousand square meters.

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There is a wide range of spaces available within what is built, from small areas of 30 m2 to the possibility of acquiring complete floors of 1,200 square meters. The submarkets of Centro Sur and Juriquilla are the ones that concentrate the majority of offices to rent or buy.

Regarding rental prices, the average was $ 13.39 USD / m² / month with a maximum of $ 16.39 USD, values within the lowest nationally but higher than nearby cities such as León, Guanajuato.

The demand for spaces was reduced during 2020 and that influenced the availability of the city to have reached 25% at the end of March 2021, the highest percentage at the national level. Another factor that has had an impact is that developments that finished construction with vacant spaces have been integrated into the inventory in recent quarters.

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The developers maintain the decision to invest in this city, proof of this is the amount close to 10 projects in the planning phase, which would be over 50 thousand additional square meters in the next three years to the construction figure, including are the C717 complex, Nowus, Áurica, Xentric Distrcit and Level Torre II.

Recently, Parks by Fibra Uno announced that it will begin the construction of an office development with 120 thousand square meters in this same year.

Querétaro continues to be attractive despite the contraction in demand during the last year, however they foresee that the Bajío region will regain its momentum in industrial activity and therefore in the demand for corporate offices.

Do not forget to consult the updated report of the office market in Querétaro in our Markets section.