The year finished with strong leasing activity, further compressing the vacancy rate. This indicator has decreased progressively in the last two years. As a result, the office market has currently a vacancy rate of 6.8% for Class A+B (2017: 7.9%).
Delayed deliveries of Class B projects was once again the norm from a development point of view, and as a result completions in this segment reached a 10-year low. High volumes of Class B space are expected for the first half of 2019, as well as the possible delivery of Costanera Center in the Class A segment.