Latin America has seen 230% growth in supply of flexible workspace over the last decade, compared to 196% in the US. Workstation rates are down, and vacancy rates are up due to COVID-19, but demand is set to flood back as more businesses take an agile approach to workspace post-pandemic.
In our latest report, The Growth of Agile Workspace: Latin America, we explore the shift in demand in key cities, monthly desk rates across Latin America, and the impact of COVID-19 on demand for managed spaces, serviced offices and coworking space in Mexico City, Buenos Aires, Sao Paulo and more.
Luis Perez – VP of Solutions Development LATAM, The Instant Group, says: “The past two years have seen a shift in demand. While the coworking and flex market initially focused on startups and occupiers in Latin America, we are now seeing traditional occupiers and corporates choose agile workspace, which is contributing to a surge in demand for larger requirements and customized space. Those entering the market today have their pick of location, space and build-out as vacancies are up, though we are also seeing pent-up demand as people have held back making decisions up until now in the pandemic. We also see suburban locales becoming more popular as companies take on a hub-and-spoke strategy in areas where transportation infrastructure is suffering and commute times are exceedingly long.”
Cost of Flexible Workspace Across Latin America
Per desk per month
- Mexico City: $336
- São Paulo: $480
- Bogota: $302
- Buenos Aires: $570
- Santiago: $356
- Monterrey: $300
- Lima: $337
- San José: $327
Find out more by downloading our latest report on flexible workspace in Latin America.
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