Research

Lima Premium Office Report, H2 2023

February 06, 2024

The Lima office market ended 2023 with a positive performance showing signs of recovery.

This performance was driven by the decision of real estate companies to postpone the last deliveries to 2024 and to pause the execution of new projects for the next two years; in order to promote the decrease in vacancy, as well as the strategy of landlords to maintain and in some cases adjust rents -list prices- in order to boost demand. These factors were key for vacancy to show a notable decrease and overall cumulative net absorption to reach a positive performance; close to the pre-pandemic annual average.

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