Total vacancy stands at 13.5%, down from 20.8% in 2023, mainly driven by absorption in prime locations and high-quality buildings.
Insight
Guatemala Office Insight 1H 2024
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Guatemala City's office market demonstrated signs of recovery since 1H23, as the vacancy rate decreased for the first time in almost a decade, driven by key sectors and evolving tenant preferences.
The banking sector emerged as a significant driver of office space demand, with major institutions occupying substantial areas in the WTC complex for back-office operations.