Research

Latin America Office Market Overview, H1 2019

Key takeaways of the Latin America Office Report, 2019

 

  • Mexico City concentrates 27% of the total surveyed stock
  • The region’s inventory will increase by 18% in the next two years
  • Half of the area to be added up to 2021 will correspond to Mexico
  • The fastest growing market up to 2021 will be Guadalajara, with a projected 70% increase
  • Santiago presents the best ratio between stock and population (one square meter of office space per 2.2 inhabitants)
  • The lowest vacancy rate is found in Santiago, at 4.6%
  • Buenos Aires is the most expensive city of the region, with an average asking rental price of USD 30.6 per square meter per month for Class A space. Asunción registers the lowest prices for Class A units, at USD 15.7
  • The average sale price per square meter throughout the region amounts to USD 3,100
  • According to the JLL Transparency Index 2018, Brazil has the most transparent market of Latin America (ranked 37 out of a total of 100 surveyed countries) 
  • Apart from Bolivia, all the countries covered in this report are ranked “High” or “Very high” in the Human Development Index, with Chile being the best performer
  • Although in recent years a significant number of Latin American economies have expanded considerably, most of them continue to reveal a great dependency on primary exports
  • Latin America joined the global trend that sees co-working spaces becoming more and more relevant
  • The typical lease term within the region ranges between three and five years

 

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