Santiago Office MarketView Q1 2021

The first quarter of 2021 has seen a severe wave of infections, which has delayed the return to the offices.  Thus, the market is suffering the effect of a new period of mobility restrictions that has postponed and reduced the demand for new offices, changing the rising projections for the end of the year.  From our perspective, it is possible to see an ascending curve in absorption, which goes from a volume of -54,500 sq.m in Q3 2020, its lowest level, to -17,684 sq.m in Q1 2021.

The low production levels could positively contribute to raise indicators, locating the market in a more balanced scenario while waiting for the recovery of demand.