Argentina. Like other segments of the real estate market, the one linked to the offices has growth expectations for this year, For now, the entry of ten new properties is expected, which will grow the offer by about 136,481 m², according to data released by the corporate real estate consultancy Colliers.
The area of Catalinas, for example, in Retiro and the North of the City of Buenos Aires will receive 55% of this area. Most are more luxurious properties (category A+). That is, the sector foresees a 2017 with a lot of renewal and consolidation of the "premium" segment.
To the bbva bank tower, for example, will be added the tower of Banco Macro, this year. And in the North corridor, the new offices built in the old Philips plant, next to the Dot shopping mall, will be occupied by Mercado Libre and Falabella, Another property that joins the market is the "Green Tower", of Corrrientes al 3000 destined to Banco Galicia, says Juan Manuel Farola, manager of Colliers' Offices Division.
The optimism of the sector lies in the fact that already in 2016 the market had a historical record of demand. And, this year, if economic activity recovers, the outlook is better, according to the executive.
For example, in terms of vacancy there is a slight increase compared to the previous quarter: 6.5%. "But that increase is due to the incorporation of the new meters into the inventory. In fact, for 2017 a decrease in vacancy is expected," said Farola. And he cites the example of Puerto Madero. "It was the place that had the highest vacancy in the market until last year (between 9 and 10%). But it recovered a lot and today it is practically 6%." This trend can generate an accommodation of rising prices, too.
According to the report, the average rental price in the last quarter of 2016 stood at US$ 24.9 per m². The North submarket of the City is the best quoted in the market, with US$ 29.2 per m². And Catalinas, the area with the best performance in value, exhibits an average ordered price of US$ 26.1 per m².
