Buenos Aires Office Report, Q4 2020
In the last months of the year, the vacancy rate amounted to 14.4% (12.0% in the previous quarter). Moreover, this value doubles the one registered in the first quarter of 2020 (7.2%). Thus, the year ended with the highest vacancy rate since 2002.
The complex situation described above also took its toll on absorption. During 2020, there was an accumulated net absorption of -39,000 square meters, the worst ever recorded (the last quarter closed with -3,000 square meters occupied).