At the end of August 2025, the office real estate market in Mexico showed positive signs, generating greater certainty for industry professionals. In an international context defined by new dynamics in global trade, the country has managed to maintain its attractiveness as a destination for corporate investment, reflecting favorable performance in demand for office space and a gradual decline in vacancy levels.

Over the course of 2025, cumulative demand for office space nationwide reached 578,000 square meters, representing a 6% growth compared to the same period from January to August 2024.

Between July and August 2025, the Mexican corporate market experienced growth in office demand, closing the two-month period with 195,000 square meters occupied. This figure represents an increase of more than 75,000 square meters compared to the same period in 2024.

The largest annual increases in office leasing activity were recorded in Mexico City, with a 77% increase, followed by Monterrey with 48% and Guadalajara with 47% compared to July-August 2024.

In contrast, office move outs between July and August 2025 was 54,000 square meters, increasing 5% compared to the figure reported for the same period in 2024. The nation's capital accounted for 88% of the vacated space in the corporate sector, followed by the Tijuana market with 8% of the total.

Office construction in Mexico remains cautious, with 1.2 million square meters under development at the end of August. During this period, no new projects were reported in any of the country's eight main corporate markets.

Total office inventory increased by approximately 8,000 square meters, reaching 12.2 million square meters at the end of the month. Deliveries were concentrated in the Querétaro and Tijuana markets, which accounted for 87% and 13% of the new supply, respectively.

The national office market vacancy rate stands at 16.2%, a decrease of more than 230,000 square meters compared to the same month in August 2024.

The corporate markets with the highest vacancy rates were Puebla and Mexico City, with 24% and 18% each. In contrast, Tijuana and León, Guanajuato, recorded the lowest levels, with rates of 7.1% and 7.4%.

At the end of August, the average office rental price in Mexico was $20.25 per square meter per month. Among the corporate markets that recorded price increases were Mérida, with a 23% year-over-year increase, while Guadalajara and Querétaro each reported increases of 8%.

The corporate office market in Mexico is moving toward a greater balance between supply and demand. While challenges still exist related to new work patterns and the search for greater efficiency in the use of corporate space, the overall outlook appears stable. Although caution remains in place regarding the launch of new projects, the gradual improvement in occupancy levels indicates that the market is adapting to the current conditions in the sector.