“Revenues to the market for real estate in the construction stage will last until 2023/25. This implies that, during this period, the highest category segment could express a growth of more than 300,000 m² in the AMBA area “, projected the report.
These new spaces are located mainly within the submarkets North of Greater Buenos Aires and North of the City of Buenos Aires, representing 90% of the properties under construction.
If the buildings currently under construction were added to the buildings in project, the incorporation of some 800,000 m² of new offices could be expected for the next five to seven years, which would represent a growth of 43.3% compared to the current inventory.
At the end of the last quarter of 2021, the real estate inventory did not register major changes and the requested rental values remained within a parameter of relative stability, with a slight increase in the vacancy rate.
Although the demand for premium offices remains retracted by the pandemic, the downward trend seems to be attenuating.
In this context, the general manager of Colliers, Alejandro Badino, considered that “although the vacancy of the office market has approached 20%, showing a historical peak, we can also observe new relocations of companies in category buildings and with workspaces that adapt to the new modality”.
“The reality is that the return to the office game is still being played and there are no certainties about how it will end,” he concluded.
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