The office market has been one of the hardest hit in recent years. The emergence of telecommuting due to the pandemic has changed work habits around the world, including Latin America, with hybrid work models. Although demand has begun to recover in the region and seems to be maintaining that trend, according to real estate broker Jones Lang LaSalle (JLL), vacancy levels are still significant. Which Latin American city has the most vacant A and B office space?

ANSWER

Panama City. At the end of the first half of the year, the Central American capital had a vacancy rate of 45%, followed by Rio de Janeiro (36.5%), Quito (30%) and Lima (24.1%).