JLL: Net absorption of office space in Caracas to fall in 2015.
According to Jones Lang LaSalle IP’s ‘Office Market Overview’ for Latin America, supply of new office space in Caracas should rise from 22,000 square metres in 2014 to 48,000 square metres in 2015. Expected net absorption is expected to fall from 37,000 square metres to 35,000 square metres. This is in the context of an overall vacancy rate of 4% across 1,123,000 square metres of space at the end of 2014. Class A office rents were USD32-37 per square metre per month on the basis of the parallel exchange rate.
Source : 31 Mar 2015/JLL/Caracas/OFF