● The Uruguayan economy has cooled down due to an adverse regional context.
● The office market of Montevideo has sluggish dynamics when it comes to stock growth. In H1 2016, no completions were delivered in Class A/A+ within the National Market. Production for the same period in 2015 was also null. Regarding Free Trade Zone, no buildings were completed under this category either.
● Vacancy at the end of H1 2016 was about 8.4% for the National Market and 5.1% for Free Trade Zones.
● The average rent for Class A+ offices in the National Market was in the range of
US$ 25.00 to US$ 32.75 per sq. m. per month, while the range in Class A spaned from US$ 17,00 to US$ 25,00 per sq. m. per month.
● The rental price range for Class A+ in Free Trade Zones would span from US$ 35.00 to US$ 45 per sq. m. per month, while Class A would stand between US$ 23.00 to US$ 34.00 per sq. m. per month.