The gross absorption of the office market in Monterrey registered a growth of 72% at the end of the second quarter of the year. Where the sale prevailed over the rent.

According to Solili, this increase is the result of a rebound in the acquisition of spaces within developments in the construction stage.

Well, investors maintain the expectation of obtaining a return on investment within one or two years, while the situation is controlled by the health crisis.

Likewise, they agree that the implementation of work from home maintains uncertainty in the sector.

Check here: Demand for Tijuana offices is at pre-pandemic levels

Therefore, the rent of spaces decreased in the last three months by 37% compared to 1Q 2021.

However, the platform pointed out that there was an increase in the average demanded area, which reached around 400 square meters. The trend for full floors is maintained.

The Centro submarket with the highest percentage in sales and Santa María in rents stand out.

Solili explained that unemployment fell 11% in June. The average unoccupied area was 237 square meters.

Of interest: Skala Corporativo and the transformation in the Northern District

In this case, the Valle Oriente and Santa María complexes reported the highest figures.

On the other hand, the average price in the market reported an increase of 0.8% from May to June and 15.7% with respect to the value of a year ago.

Especially the Santa María submarket had the highest percentage of increase in a month, due to properties that offer conditioned offices.

It is worth mentioning that the construction of an office space of 3,570 square meters in the Centro submarket was completed.

Additionally, it is expected that approximately 7,800 meters more will be delivered in September.

"Although the start of works on projects with a considerable area was not reported, it is expected that some, such as Torre Rise or Colonia in the Centro submarket, will begin works," said Solili.

Solili has the Real Estate Report of Monterrey and Tijuana Offices

Original note