Mexico City begins the year with a more encouraging outlook in corporate investment and the fact is that for this new stability, the flexibility that tenants have shown have been key factors, both in decreasing rental prices, change in the transaction currency. , adjustments in the duration of the contract; coupled with the gradual return of workers for whom the home office is no longer a viable option and require corporate spaces to perform better in their activities.

Although it is true that the office market in Mexico City still does not show signs of recovery, what is important to note is that during the January-March 2021 period, gross demand reported an increase of 28% compared to the previous quarter. , which went from 58 thousand m² during 4Q 2020 to 74 thousand m² during 1Q 2021.

The pandemic has been a severe blow to the rent and sale of offices, which in annual terms have decreased by 57%. Another effect that has been observed is that now transactions are smaller in volume, which have gone from being one thousand square meters to 600 square meters on average.

It is noteworthy that the Insurgentes, Reforma and Polanco corridors have persisted with the highest demand for offices; and the most popular corporate buildings are Class A buildings, although they occupy a lower average footprint.

These spaces are usually more attractive due to modifications that the owners have opted for, such as downward price adjustments, flexible contracts and in national currency, they implement strict security and sanitation protocols to avoid contagion, among others. ; thereby giving security and certainty to companies seeking to establish themselves in Mexico City.

A large part of the actors involved in the commercialization of office spaces have taken action, showing positive in the expectation of a gradual increase in office leasing. On the other hand, faced with a panorama of challenges, they continue to work for a restructuring of the business model that includes: design of larger spaces for staff returning to work, implementation of more effective health measures, redesign of outdoor spaces. free, office rooms equipped with the necessary equipment for people who come some days of the week, pricing scheme, more flexible contracts, and above all, a comprehensive communication has been opened, which will favor this real estate segment in the following months.