Bogotá Office Market Overview

Peaking market

Falling market

Rising market

Bottoming market

$45,000 - $60,000 m²/ month

2,744,514 m²

12.2 %

Q4, 2022 Total Stock

89,049 m²

Q4, 2022 Vacancy rate

Q4,2022 Net Absorption

$68,000 – $100,000 m² / month

USD $14,5 – 21,4 m²/ month | Rents CBD – Prime

$62,000 - $75,000 m²/ month

USD 13.2 – 16 m²/ month | Rents CBD - Non Prime

54,000 - $68,000 m²/ month

USD 11.5-14.5 m²/ month | Rents Decentralized - Prime

USD $9.6 – 12.8 m²/ month
Rents Decentralized – Non Prime

Prime

Non prime

Bogotá Submarkets

Santa Bárbara: An extensive high-income area that is located between Calle 100 and Calle 127.

Calle 100: A primary commercial corridor with several large-scale properties.

Chicó: A high-income area located between Calle 90 and 100. Much of the stock here is composed of smaller buildings with small floorplates, due to high density and zoning laws that restrict building height.

Andino/Nogal: A high-income area anchored by three shopping malls: Andino, Retiro, and Atlantis.

Avenida Chile: The city's financial district, located along and around Calle 72.

Salitre: It includes the area on Avenida El Dorado (Calle26), from Avenida Ciudad de Cali to the NQS. Salitre contains some large-scale, high-quality properties, with large plants and reasonable rents.

El Dorado: A submarket that is seeing rapid growth. Located near El Dorado International Airport, this submarket has several large-scale developments that offer efficiency and economy.

Centro Internacional: Bogotá's old downtown where the oldest buildings can be found; consists mostly of older Class B and C properties that are poorly maintained and have many landlords due to a Strata Title ownership structure.

Others: Any other building that is not in any of the above sub-markets is considered in this category.