Santiago Office Report, Q1 2023

May 03, 2023

For the first quarter of 2023, the office market in Santiago registered a production of almost 30,000 sqm, being the largest figure for this indicator since the fourth quarter of 2019.

At the end of 2022, JLL Chile carried out an exhaustive review of the buildings that make up the sample of this report and a reclassification of the stock of office buildings was carried out, according to the JLL internal weighting method, which consists of a scoring system according to the attributes of each building obtaining a final grade for each one.
As a result, there were some class movements with respect to the previous classification A and B, modifying the stock of total square meters. In addition, this also caused some buildings to leave the sample, by moving to class C.

This process, which is carried out every four or five years, and the previous one was carried out at the end of 2018, considers the age as one of the attributes of the buildings that can generate changes in their classification. An additional factor considered in the analysis on this occasion was the behavior of the asset during the pandemic period. The above, because in the mentioned period there were differences in the performance of the main indicators of some buildings, being possible a better segmentation.

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