The Mexican office market ended October 2025 showing stability in corporate investments and a new post-pandemic scenario where flexibility, space quality, and location are gaining importance for investors in the sector, within a more favorable macroeconomic environment.

Against this backdrop, the office inventory in Mexico reached 17.6 million square meters at the end of October 2025, reflecting year-over-year growth of approximately 200,000 square meters.

Corporate investments have shown solid performance throughout 2025. As of the end of October, cumulative demand for office space in the country during the first ten months of the year totaled 780,000 square meters, representing an 18% increase compared to the same period in 2024.

During October, the national office market registered demand of 80,000 square meters, reflecting an 11% increase compared to the same month in 2024. Leasing activity was concentrated mainly in Mexico City, with 87% of transactions, followed by Querétaro with 7%.

On the other hand, vacancy rates for corporate spaces in October were 25,000 square meters, representing a 24% reduction compared to the same month in 2024. The vacated spaces were concentrated mainly in the nation's capital, accounting for 97% of the total.

Office construction activity in Mexico reached 1.2 million square meters. In October 2025, construction began on 17,000 square meters, primarily concentrated in the markets of Querétaro 58%, Monterrey 24% and Guadalajara 18%. New office space supply in October totaled 15,000 square meters, mainly concentrated in the Mérida market, while the remaining markets did not report any new projects.

The national office vacancy rate was 2.5 million square meters, representing 14.2%. Over the past 12 months, the corporate office supply has decreased by 500,000 square meters. The markets with the largest contractions were León, Guanajuato, with a 52% drop, followed by Puebla 33% and Mexico City 21%.

The average office rental price in Mexico is $20.21 USD per square meter per month, showing no significant fluctuations compared to October 2024. The markets with the highest prices are Tijuana, at $21.70 USD, and Mexico City, at $20.88 USD per square meter per month, the only ones above the national average.

At the end of October 2025, the Mexican office real estate sector maintained a positive performance, with healthy levels of demand and stable rental prices. Construction activity continued to develop selectively, while vacancy rates showed a downward trend, projecting a favorable outlook for investors and participants in the country's office market.