Argentina began to show a reactivation in the occupation of premium offices (class A), following the general average trend of the market in South America, that “the vacancy rate is showing signs of recovery and reversing its upward trend in most large cities.”
This was indicated by the global corporate real estate services company, Cushman & Wakefield.
In the case of Buenos Aires, it arises from the report of the company that the local market “experienced some recovery and closed 2022 with a vacancy of 14.5% in the corporate office market, which represents a year-on-year drop of -6.6%”.
Likewise, “the last semester marked a positive net absorption of 23,835 square meters, thus registering the first period with a positive indicator since the pandemic crisis.”
promising future
In this regard, from the firm they contextualized that “With the Covid-19 crisis almost over, companies across the region stopped vacating spaces, and according to the information available, it is expected that in the immediate future, due to greater stability in the decisions made by companies, there will be better conditions for a gradual return to work spaces, which should positively affect decreasing the vacancy even more”.
However, they specified that uneven market growth is observed, in which “long-term investments are gaining ground and the size of the market is growing, mainly in the most stable economies such as Chile and Colombia, unlike other territories such as Argentina or Peru.”
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