The Mérida corporate market registered a gross demand during 2021 that reached 11 thousand square meters, marked by a quarterly rhythm of 2 thousand to 3.5 thousand square meters, which remained in that range at the end of the first quarter of 2022.

This corporate market, which started 2022 off on the right foot, recorded close to 3.1 thousand square meters of gross absorption at the end of 1Q 2022 and during April 2022 alone it already accumulated another 2.8 thousand square meters, so we can project a second quarter with better performance .

During the period elapsed in 2022, the Boulevard García Lavín submarket was the busiest in terms of transactions, maintaining a similar proportion of sales and rentals in a highly attractive market for investment and wealth expansion.

Regarding the configuration of the spaces that are in demand, the average size went from 120 to 180 square meters, between the end of 2021 and the first quarter of 2022.

Of interest: Government procedures are simplified to reactivate real estate development in CDMX

This incremental movement in gross and net demand in a market where the slowdown in new construction as a result of the pandemic has been a key factor in the decrease in vacancy, which went from 13.27% in April 2021 to 11.6% in April 2022. .

In turn, rental prices have managed to adjust upwards, registering their lowest level of the last two years in November 2021 with $17.4 dollars per square meter per month to reach $19.8 dollars per square meter per month at the end of April 2022.

This average rental price is on par with Tijuana and just below the capital of the country, which registers $20.87 dollars per square meter per month at the end of April 2022.

So far this year, the Cabo Norte submarket registered the highest unit rental price in Mérida with $22.0 dollars per square meter per month, and it is there that a little more than a third of new constructions are concentrated, when currently this submarket only has 3.9% of the inventories in the entity.

Another phenomenon that stands out is the low unemployment when compared to other entities at the national level, which explains why net absorption has registered positive figures in recent quarters.

As for the new projects under construction, The Sky has surfaces from 32 meters, through complete floors of 1.2 thousand square meters to a total of almost 9 thousand square meters, while Acqua Avenue has spaces from 22 to 3.2 thousand meters squares.

Check here: Mobility of Mexicans could be favored with hybrid work

Both projects are located on the Cabo Norte submarket and are marketed for sale, in ranges around $2,400 dollars per square meter.

If we consider the effects that inflation has had on direct construction costs and financing costs, this level of sale prices is extremely attractive to purchase a property in one of the corporate markets that has shown greater resilience to the crisis than left the pandemic.

Towards the end of the quarter, it is expected that the conceptualization and construction of new mixed-use and boutique projects will continue to advance, managing to balance investment and risk in an entity that reflects a significant appetite for industrial and residential investments.