Chile. Santiago de Chile presents the second lowest price per square meter for class A office rental in South America, only above Lima, after during the period from January to March of this year the prices of class A / A + offices fell by 22.4% in the Chilean capital, according to information published by the consultancy CBRE.
The strong impact of the depreciation of the peso and the economic slowdown in the office market are the causes pointed out by the consultancy so that Santiago is in the position of being the city with the lowest prices for offices in the region, only surpassing Lima, Peru.
Verónica Melys, head of studies at CBRE, said in this regard that "we were coming from a much slower 2014 in terms of activity, so we see a much more dynamic first quarter and also a brake on the levels of increases in vacancies."
"We are in a cycle of moderate decline in sales, which means that we have not yet reached the tipping point, although we are falling at less accelerated rates. The production curve decreases towards the horizon of 2017. Therefore, by that date the indicators should already begin to stabilize."
