Mexico’s office vacancy rate recorded a downward adjustment in May 2026, in an environment of greater stability in the corporate market and a more balanced dynamic between space absorption and tenant departures. This performance translated into an annual decrease of 1.5 percentage points, bringing the indicator to 15.3%, equivalent to 2.7 million square meters nationwide.

Related: Office leasing in Mexico City grew 25% during Jan–Apr 2026

The vacancy indicator reflects a market environment in which, during April and May 2026, space absorption reached nearly 200,000 square meters, exceeding tenant departures, which totaled around 130,000 square meters.

During the April–May period, Mexico City accounted for the largest share of tenant departures nationwide, with approximately 123,000 square meters, followed by Guadalajara with nearly 3,000 square meters and Tijuana with approximately 2,000 square meters.

Read also: López Mateos Sur captured 60% of office demand in Guadalajara in April 2026

At the end of May 2026, the average office rental price in Mexico stood at $20.13 USD/m²/month. The markets with the highest rental rates were Tijuana, at $21.20 USD/m²/month, and Mexico City, at $20.90 USD/m²/month.

Overall, the office market shows signs of recovery and greater balance, pointing to a trend toward stabilization across the main market indicators.