The reduction of the working day in Mexico, a proposal that seeks to adjust the working hours of Mexicans from 48 to 40 hours a week, with two days of rest for five days of work, could also generate opportunities for the office real estate sector.

This initiative prospered in the discussions and was even approved by the Political Coordination Board, but is still pending discussion in the Chamber of Deputies and a resolution is expected in 2024.

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Although it is expected to be positive for workers, due to the decrease in work, companies will have to look for solutions that favor the productivity of their workforce, since to maintain it it would be necessary to expand it between 12% and 15%, according to a study by the firm AON, which would represent an additional expense of 386,000 million pesos, according to the Employers' Confederation of the Mexican Republic (Coparmex).

If the reduction in working hours occurs as proposed, the office market will be at a point where it could benefit, due to the effects it could experience. Jemil, a company dedicated to the rental of virtual and furnished offices, indicated what the most outstanding trends would be in this context:

Hybrid and working from home is a prominent practice during the Covid-19 pandemic, but the reduction in working hours could give further impetus to it.

The need to expand the workforce to maintain the productivity of companies will represent additional costs, this will mainly affect Micro, Small and Medium Enterprises (MSMEs).

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An alternative that is set to grow by 2024 among employers who require a physical workspace is the rental of furnished offices, which prevents them from paying the rent for a property and also equipping it. This solution has advantages such as a simple hiring process, variety of locations, as well as an investment of up to 80% less.

Another solution to reduce expenses is coworking, which consists of renting shared spaces, whether physical or virtual, with which companies can carry out their activities normally or use the space for meetings.

Like virtual offices, it is a more economical option than renting or purchasing a traditional physical space, which would improve spending in companies that must adjust to the reduction in working hours.

In Solili you can check available offices in Polanco, Insurgentes and Reforma

Original note