Chile MarketBeats

Santiago's Class A office market strengthened its recovery during the third quarter of 2026, with vacancy dropping to 8.4%, its lowest level since 2021, and a positive net absorption of 9,323 m².

Las Condes led the demand, especially in El Golf and Nueva Las Condes, while the average rental price remained steady at 0.54 UF/m²/month. The limited addition of new supply over the coming years suggests a tighter market and gradually more favorable conditions for landlords.

The logistics market in Santiago closed the third quarter with a vacancy rate of 4.5% and a net absorption of −15,078 m², due to vacancies in class B warehouses.

Class A, on the other hand, maintains a vacancy of 0.2% and already has 73% of its under-construction space pre-leased. The average asking price was 0.146 UF/m²/month.

During the first half of 2026, Santiago's corporate real estate investment market recorded transactions worth UF 5.98 million, showing a steady recovery in activity and increased investor confidence.

The momentum was led by the office segment, followed by industrial, while retail and multifamily showed a more moderate presence.