Costa Rica: Office Market at the End of 2016

In 2016 net absorption of 82,000 m2 was reported, compared to the 44,000 m2 of new spaces, the highest since 2012, and a inventory rotation which was less compared to other years.

Wednesday, February 22, 2017

From a report by Newmark Grubb:

2016 closed as one of the most special years in recent history of the office market in Costa Rica: according to information supplied by Newmark Grubb, it was the first time that inventory demand exceeded new spaces that were introduced.

At the end of the period, a net absorption of 81,818 square meters (m2) was reported against 44,629 m2 of new spaces, the highest since 2012 and an inventory rotation that is lower than other years.

Read full report (in spanish).

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