Chile MarketBeats

The Class A office market begins 2026 with active demand focused on new corporate buildings, primarily located in established areas with good connectivity and access to services. The vacancy rate registers a slight increase to 9.4%, mainly due to new supply entering the market. Excluding this effect, the market would have shown more stable performance, with a downward trend in vacancy.

During the first quarter of 2026, the Santiago logistics center market remained resilient and stable overall, although there were signs of increasing segmentation among assets of varying standards. The average market vacancy rate was 4.2%, remaining at controlled levels in aggregate. However, a growing differentiation between asset classes was observed.

During the second half of 2025, the Chilean economy showed signs of greater stability. Inflation declined faster than anticipated, reaching 3.5% in December, with a projected convergence toward 3% during the first quarter of 2026. This scenario was driven by reduced cost pressures and a moderation in the exchange rate.

GDP growth for 2025 is expected to close at approximately 2.4%, bolstered by an increase in investment in machinery and equipment—particularly within the mining and energy sectors. For 2026, growth projections were revised upward to range between 2% and 3%, reflecting greater economic dynamism than previously anticipated.