The Mexican office market continues to undergo a transformation, with companies, investors, and developers adjusting their strategies to the sector's evolving conditions. Market trends in 2026 reflect a more selective approach, with a greater focus on efficient space utilization and the planning of new projects.

During the first seven months of 2026, cumulative office leasing nationwide totaled 540,000 square meters, representing a 9.5% year-over-year increase compared to the same period in 2025. However, demand declined during July 2026.

In the seventh month of the year, gross office demand reached 44,000 square meters, a decrease of nearly 60% compared to July 2025. Mexico City accounted for 52% of the occupancy activity registered in the country, followed by León, Guanajuato, with 19%, Monterrey with 13%, and Guadalajara with 11% of the national total.

Meanwhile, the national vacated office space totaled 25,000 square meters during July, 12% lower than the figure recorded a year earlier. The release of corporate spaces was led by Mexico City, which accounted for approximately 78%, followed by Monterrey with 13% and Querétaro with 5%. The remaining office markets maintained moderate levels of company departures.

The national office inventory reported 18 million square meters at the end of July 2016, showing an annual growth of 2.2%. During July, none of the country's main corporate markets registered the delivery of new buildings.

Office construction ended the month with just over 1 million square meters under development, a 16% decrease compared to July 2025. At the end of the month, Mexico City accounted for approximately 50% of the space under construction, followed by Monterrey with 16% and León, Guanajuato with nearly 11%, consolidating their positions as the leading markets with development activity. Furthermore, no new office projects were started in any of the monitored markets nationwide during the month.

In July, office vacancy in Mexico stood at 2.8 million square meters, equivalent to a national rate of 15.3%, a decrease of 1.2 percentage points compared to the same month in 2025. Puebla recorded the largest year-on-year reduction, with a 5.4 percentage point drop in its vacancy rate, reaching 18.5% at the end of the month. Monterrey followed, with a decrease of 2.3 percentage points, reaching a rate of 10.4%.

The average office rental price nationwide was $20.53 USD/m²/month in July, registering a year-over-year increase of 1.5%. Querétaro showed the largest increase in rental prices, with a 3.8% rise compared to July 2015, followed by Guadalajara, with 3.2%. The markets with the highest rental prices continue to be Mexico City, at $21.30 USD/m²/month, and Tijuana, at $21.10 USD/m²/month.

The Mexican office market continues to move toward more balanced conditions. While corporate investments contracted in July, the year-to-date figure remains positive. In this context, corporate sector participants are maintaining more selective strategies and a long-term perspective in light of the new market conditions.