Chile MarketBeats

The year 2025 closes with a favorable performance in the office market, characterized by a sustained improvement in occupancy levels. Despite the introduction of a significant volume of new supply, vacancy continues to adjust downward, reflecting healthy absorption and active demand capable of supporting the growth of available stock.
Meanwhile, vacancy stands at 9.2%, down 0.2 percentage points compared to the previous quarter and 1 percentage point compared to the end of 2024 (10.1%). El Golf and Nueva Las Condes fall to below 4%, standing out as the submarkets with the highest demand. Santiago downtown stood out this year for its occupancy, mainly due to government entities, going from a vacancy of 20% at the beginning of the year to 10%.

The vacancy of logistics centers in Santiago closed the year at 3.45%, equivalent to 200,000 m², representing a 10% decrease compared to the same period in 2024, in line with the positive variation in commercial activity over the past 12 months. During the year, 157,000 m² entered the market, 24% less than in 2024 (208,000 m²), highlighting that 63% of the space that came onto the market corresponds to pre-leased centers, half of which are Built to Suit projects.