At a general level, the office market in the first quarter of 2020 in Mexico City is presenting a contraction stage, in which some corporate brokers are even in negative numbers, such as Bosques, Interlomas and Santa Fe, which report, before the contingency, greater unemployment. “However, we foresee that this could be reactivated in nine to ten months,” says Pablo López Gallardo, Director of Market Research at Solili, in an interview for En Concreto.

The specialist, although he points out that there is a constipation situation in construction of 30%, there was still some building activity. “The 30% that we commented on the decrease in activity was in the construction of offices during the quarter. According to the figures reported in the first quarter of 2019 (1Q19) if we compare it, the reduction in percentage terms is approximately 25 to 30%, maximum ”. This contraction, explained López Gallardo, occurs because in the first quarter of 2019 there were 1.6 million and in 1Q20, we reported 1.1 million.