Latin America Office Market Overview, 2021
This report reveals the markets with the most volume and the highest prices, and analyzes demand during 2020 and 2021 across 11 countries and 14 cities of the region.
During 2020 and 2021, an unprecedented proportion of office space had to be shut down, for months on end. The impact on indicators was as direct as it was resounding: the vacancy rate rose to all-time highs, while the demand for new leases ground to an abrupt halt. Many projects had to be put on pause and reconsidered. However, the promise of a new normal more similar to the pre-pandemic situation now seems closer at hand, laying the foundation for a more optimistic outlook for the region. Thus, the worst difficulties appear to be past us, and we are more confident on how the market will behave going forward.
This report aims to provide tools for a better understanding of the present and immediate future of the office market in Latin America. It reveals the markets with the most volume and the highest prices and analyzes demand during 2020 and 2021 across 11 countries and 14 cities of the region.