A CBRE survey reveals that 50% of companies in Colombia plan to expand their workspaces in the next three years, with no reductions anticipated. Over 50% expect employees to attend the office at least three times a week. Bogotá's office market shows post-pandemic recovery with new construction and high occupancy in premium buildings.
The 2025 CBRE office tenant sentiment survey highlights that 50% of companies in the country plan to expand their workspaces in the next three years, while none anticipate reducing their occupied area. CBRE handles transactions for over 19,000 m² under the pre-leasing model. Of the projected area for the next four years, 75% will concentrate in the Central Business District (CBD), with over 16% already secured by firm leasing commitments.
Before the pandemic, in 2019, Bogotá's office market was robust, with a vacancy rate of 9.7% after three years of continuous decline and rents around $62,200 per square meter. That year saw over 185,000 m² of occupancy, driven by expansions in BPO, call centers, and coworking sectors. Post-pandemic, vacancy rose to 14.4% in 2021, but many companies relocated to high-specification buildings. Between 2020 and 2025, 16 Class A+/A buildings were inaugurated, adding 239,000 m² of leasable area, featuring projects like Atrio, Connecta 80, and Central Point Torre. Around 40% of the space was occupied via pre-leasing, and premium CBD buildings reached 100% occupancy.
"Companies have shown that offices haven't disappeared: priorities have changed. Today, occupants value Triple A specifications, locations near public transport, sustainable infrastructure with LEED or EDGE certifications, and amenities that enhance the employee experience," said Andrés Cardona, vice president of Transactions and Consulting for CBRE Colombia.
The survey states that over 50% of occupants expect workers to attend the office at least three times a week, and 88% require a minimum of two times in the same period. Additionally, 63% of companies foresee an increase in attendance in coming years. 75% of tenants maintain stable proportions for flexible spaces, adopting coworking for reasons like reduced initial investment, operational flexibility, and managing hybrid work demand.