According to the new Colliers Argentina report, asking rental values remained stable, while the vacancy rate showed a slight decrease.
Colliers presented the latest office report which corresponds to the fourth quarter of 2023. At the end of the last quarter, one new property was added to the premium office inventory. Asking rental values remained stable, while vacancy rates declined slightly.
According to Colliers, the premium office market recorded a slight decline in vacancy rate, standing at 17%. A total of 321,920 sq m of office space was offered for rent. It is estimated that more than 150,000 m² of new office space will be added by 2024, which would imply a growth of 8% over the current stock.
“If availability is broken down by property category, it can be seen that the highest vacancy is in A+ buildings, reaching 18.9% (233,411 sq m). On the other hand, class A properties showed a vacancy of 13.4% (88,508 sq m),” said Juan Manuel Farola, commercial manager of Colliers Argentina.
At the end of this period, the net absorption of the market showed a positive balance of 5,691 m². In terms of property category, A+ properties showed a positive net absorption of 5,216 sqm, while A properties showed a balance of 475 sqm.
According to the latest report, “The market average Asking Rent remained stable., The average price per square metre is USD 22.6 per square metre. A+ properties have an average price of USD 23.9/m² and A-class properties USD 18.8/m²,” Colliers comments.
For the different brokers, prices vary. As in the previous report, Macrocentro South is the most competitively priced submarket, while Catalinas and Norte CABA reflect the highest asking values.
For further information, please contact Colliers Report
About Colliers
In Argentina, Colliers has more than 60 years of experience in the local market, providing real estate services to local and international companies in the most important cities of the country and neighbouring countries. Currently, it has a multidisciplinary team of professionals with high performance and experience in the market. It also provides real estate services to developers, owners, corporations and investors such as: Brokerage (Landlord and Tenant Representation); Valuations and Consultancy; Corporate Solutions; Investments; Project Management and Space Planning. Its difference is radical in terms of the quality of its service. Today, it is the advisor of choice for many of the world's most innovative and successful companies.
