The labor demands of the new generations of professionals are reshaping the labor market and, consequently, the office real estate market. In this regard, data from IWG's "The Future of Work: A Trends Forecast for 2024" study indicates that 75% of CEOs expect their companies to continue operating with hybrid work models over the next five years.

Tiago Alves, CEO of IWG in Brazil, believes hybrid work is one of the main labor megatrends for 2024, providing benefits such as increased employee happiness, improved productivity, and greater talent retention and attraction.

"With hybrid models, professionals can adjust their work to their lives, even reducing the need for long daily commutes. Offering the option of hybrid work is an important and simple way for companies to show they care about their employees. This gives them more control over their schedules and more free time. Companies that adopt hybrid work perceive a healthier team and a more committed and productive one," says Alves.

For 2030, IWG projects that 30% of the global commercial real estate market will comprise flexible workspaces. In this regard, SiiLA data indicates that flexible office models have been expanding in Latin American countries like Mexico. An example of this is coworking spaces, which until last year were the third most important tenant in terms of occupied square meters nationwide, only behind the finance and public administration and services sectors. Additionally, SiiLA Market Analytics data indicates that between 2019 and 2022, the number of companies offering coworking services in Mexico increased by almost 30%, especially in high-quality spaces (classes A+ and A), representing about 90% of their gross leasable area.

To learn more about office market trends, explore SiiLA REsource or contact us at contacto@siila.com.mx.