Lima Office Marketbeat Q1 2019

Our quarterly study shows that in the first quarter of the year the class A office market started what could be a progressive adjustment of vacancy indicators and rents.

The inventory of class A offices rose to 9.7% compared to the same quarter in 2018, a growth that showed that the supply of new inventory continued to drop.

Vacancy indicators closed at 18.1%. The amount of available area dropped to 9.6% compared to the previous quarter mainly because of the occupation or rental of large office areas, in some cases of complete buildings.

Bid prices for rents were stable and closed at USD 17.2 per m2/month. Although this showed only a slight change to the market average, the average rent in Chacarilla rose to 7.2% compared to the previous quarter.

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Over the last two decades the office market in Lima has experienced unprecedented growth which changed and continues to change the look of the city.


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