Buenos Aires Office Report, Q2 2020

The second quarter of the year was almost completely dominated by the COVID-19 pandemic, as had been the case since the last part of the preceding period.

The vacancy rate increased 19%, that is, in the second quarter it was 1.4% higher than in the preceding period, as it went from 7.5% to 8.9%. This evolution –which is primarily attributable to the consequences of the pandemic and the governmental reaction to it– results to a great extent from the decrease in the number of new lease agreements, the termination of lease agreements which were not renewed and the early giveback of spaces.

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