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High prices in deluxe office leasing in Bogota have been decreasing in the last couple of years. Before, prices were as high as Manhattan’s exclusive sectors.
 
With the low oil prices, uncertainty about Colombian economy behaviour and the escalating office offering in the main passages in the city have made a jolt in the real-estate sector because of the luxury unoccupied offices.
 
Cushman & Wakefield company found out that leasehold prices have fallen $22 dollars on average per square meter in the capital.
 
On the other hand, Colliers firm assures that on-growing companies benefit of this curve in market, many organizations are getting luxury properties at very low cost-rates migrating from mid to high class. Quoting, “Technology and communication corporations are taking advantage of this market momentum to transfer their offices to much larger places from 200 square meter to 300 or even 600.”
 
Cushman & Wakefield assures that the most competitive prices among deluxe sites are located in Salitre with an average of $59,400 Colombian pesos per square meter. In contrast, the most expensive offices are in Santa Barbara, Bogotá in 5 buildings: Tierra Firme Towers, AR Tower, United Towers 2, Empresarial Cusezar Tower and Teleport Business Park.
 
This quadrant is well-known for its elevated prices because of the privileged location it possess, its refined design & architecture and its unique good environment which is distinguished by the sophisticated all-inclusive houses, high-class hotels and a first-rate commerce center for the high purchasing power people.
 
It is estimated that unoccupied offices could grow in number as a series of new complexes are being built and an almost 164,000 square meter terrain will enter the market to compete with actual offers. As a result of this, prices may be pushed down in this type of offices with areas of 500 square meter or more that include air conditioning, elevators, their own facilities management, contingency system alerts, auditoriums, convention centers or heliports.
 
SRS Colombia and our property consultants can assist you since the search of a new place that adequates to your company’s requirements until you sign your new leasing contract.