Argentina MarketBeat Reports

During the first three months of 2024, the premium office market segment continued to show encouraging signs. Despite the persistent political uncertainty, this quarter maintained a positive trend.

The vacancy rate experienced an increase of 1.1 percentage points, closing at 15.9% due to the entry of new projects into the market, while net absorption recorded a figure of 9,564 m², following the trend of the last period of the previous year. In turn, the average asking price maintained its trend, closing the quarter at 24.53 USD BNA/m², with minimal variation from the previous record, also due to the entry of new premium projects.

The strong demand over the last two years in the premium logistics center market drove the construction of new projects that were delivered in the last months of 2023. Currently, the inventory of the Buenos Aires market is 2,500,000 m².

Regarding vacancy and prices, the report indicates a reversal in the vacancy rate trend, which went from 2.8% during the first half of the year to 5.7% in December; and the average monthly rent reached USD BNA 7.7/m², almost 7% higher compared to the previous semester.