In a March 2016 report, JLL reviewed the metrics of the office market of San José de Costa Rica. The city is an important base for manufacturing and business process outsourcing (BPO) operations. The economy grew by around 2.5% last year and is expected to expand by 3.4% in the coming year. International competitiveness is being boosted by the government’s infrastructure investment program. At the end of last year, total stock in San José amounted to 1,033,000 square metres. The vacancy rate was 16.3%. Absorption and production last year amounted to 51,000 square metres and 73,000 square metres respectively. Class A rents were USD15-23/ square metre/ month and are expected to fall. Cap rates are 8-10% and are expected to track sideways.

Source : JLL/Mar 2016/ San José de Costa Rica/OFF