The office market in San Juan remains slow with a decreasing transactional volume.
Insight
03 August 2023
Puerto Rico Office Report, H1 2023
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The downsizing of corporate real estate has continued in the last months with rumors of big company name reducing their spaces. The market is still adjusting to the adaptation of a hybrid work scheme, thus multinational companies are taking advantage of the tenant favorable conditions that allow them to reduce space or relocate to smaller spaces with ease. This is expected continue to occur during the remainder of the year until the market adjusts completely.