The office market in Santiago ended Q4 2024 with an overall net absorption of 28,353 m., and a cumulative net absorption for the year of 41,020 m.
Insight
17 January 2025
Santiago Office Outlook, Q4 2024
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- Accumulated net absorption was positive in 2024 and amounted 41,020 sqm, concentrating in Las Condes, Providencia and Ciudad Empresarial.
- The general vacancy rate decreased to 8.8% in Q4 2024, reverting the increase seen in the two previous quarters.
- Class A space concentrated 64% of the annual net absorption (26,364 sqm).