Bogotá Office Market
- For 2025, the supply of office spaces is expected to remain stable or even decrease in the CBD corridors, despite moderate inventory growth. Although there are multiple projects in the planning phase, high construction costs and financial conditions have hindered the feasibility of new initiatives, which will prolong the execution times of the works.
- The shortage of large spaces, especially in strategic locations like the CBD, will continue to exert upward pressure on rental and sale prices. This behavior will be driven by tenants’ preference for well-located spaces with specifications that meet new work dynamics.
Bogotá Industrial Market
- The 2024 year was challenging for the industrial sector, as rising construction costs and interest rates impacted the occupancy of industrial spaces, as well as their prices.
- The e-commerce, transportation, and logistics sectors drove absorptions throughout the year.
- Although there was slow absorption of spaces, the dynamics increased during the second half of the year, resulting in a slightly positive year-end balance.