Guadalajara Office MarketView Q1 2023

May 9, 2023

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- As of the close of the first quarter of 2023, the stock of class A/A+ commercial space remains at 791,000 Sq. m., a figure that is 1.6% over Q1 2022's stock.

- The construction indicator reached more than 66,000 Sq. m. in Q1 2023, recording an increase of 68% compared to construction in the same period of 2022 (39,000 Sq. m.), driven by construction starts on 4 projects, 3 of which are in the Financial District.

- The asking lease price closed the first quarter of the year at US$22.30 per sq. m. per month, with an annual increase of US$1.83, driven primarily by the overall increase in asking lease prices in the Guadalajara Metropolitan Area (GMA).