JLL: Net absorption of office space in Santiago to fall in 2015.

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According to Jones Lang LaSalle IP’s ‘Office Market Overview’ for Latin America, supply of new office space in Santiago should fall from 343,000 square metres in 2014 to 250,000 square metres in 2015. Expected net absorption is expected to fall from 180,000 square metres to 118,000 square metres. This is in the context of an overall vacancy rate of 9.7% across 3,044,000 square metres of space at the end of 2014. Class A office rents were USD14-26 per square metre per month.

Source : 31 Mar 2015/JLL/Santiago/OFF

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