Data from the report "Office Real Estate Market up to June 2017" by Colliers Costa Rica shows that at the end of March this year the inventory amounted to 1.4 million square meters, an increase of 2.4% compared to the same period in 2016.
 
The availability rate up to March 2017 stood at 10.14%, slightly lower than the 14.18% rate recorded in March last year.
 
From a demand perspective, annual net absorption was 87,079 square meters, 7% less than the figure recorded in March 2016.
 

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More on this topic

Over-supply in the Real Estate Market?

November 2017

Reports state that the available supply of office space in square meters in Panama City grew from 18% in July of last year, to 21% in the same month in 2017.

A study reported on by Elcapitalfinanciero.com indicates a sustained increase in the available supply of office space in the Panamanian capital, which went from 1,669,189 square meters in July last year, to 1,629,504 in the second half of this year. 

The Office Market in Costa Rica

October 2013

In the last year the country has built about 120 thousand square meters of new class A and AB office spaces, and recorded an availability rate of 11.9%.

In recent years, Costa Rica has become one of the major markets for offices in Latin America, ranking eighth in creation of supply in this sector, according to a study by the US real estate firm Jones Lang LaSalle (JLL).

Panama: Oversupply of Offices

October 2012

An increase in the supply of offices in Panama City is putting downward pressure on occupancy levels.

According to the consultant Indesa, the occupancy level in the first quarter of 2011 was 95.4%, versus 86.5% for the same period this year.

Speaking about the topic, the Corporate Finance Director of Indesa, Francisco Escoffier, said that, "In the next couple of years it is not expected that the total demand for offices, including locally generated demand and the demand generated by the arrival of multinationals, will be enough to absorb new supply coming, so the available inventory will go up and occupancy will do down ... in the research occupancy means that there is physically one tenant in the property, which is a conservative definition. "

Costa Rica: Real Estate Office Market

November 2011

An NAI Costa Rica Report for the third quarter 2011, gives analysis categorised by supply, demand and prices, and an evaluation of new projects.

Extract from the report:

The office property market is stable with an availability rate of 8.9%, up 1.1% from last quarter, due to the steady inflow of new office centers to the market.