Santiago Offices MarketView Q4 2013
314,806 SQ.M. OF CLASS A & B OFFICES ENTERED THE MARKET IN 2013, INCREASING THE STOCK BY 9% FOR THE YEAR.
The large number of square meters entered during 2013 and a gradual increase in the vacancy rate, controlled by an absorption that exceeded the historical 5 year annual average, characterized the closing of the office market in 2013.
In regards to the real estate market, the entry of two Class A buildings totaling 35,081m2, and 7 Class B buildings totaling 63,968m2, affected the A+B vacancy rate, which registered an increase in respect of the previous period, at 5.24% versus 3.76% in Q3 2013.