What's a typical lease term in Bogotá?

5 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.

How is rent quoted in Bogotá?

In COP/sqft/year. We also publish a USD-normalised view ($28/sqft/yr) for cross-market comparison.

Net leases.

Typical lease length: 5 years.
Typical rent-free: 5 months.
Vacancy: 14.6%; trend rising.
Net leases.

Bogotá office lease norms

Net leases.

TL;DR

Typical lease length: 5 years.
Typical rent-free: 5 months.
Vacancy: 14.6%; trend rising.
Net leases.

Structure

Net leases. 5-year terms with renewal options. Free rent of 3-6 months and TI of COP 350,000-700,000/sqm typical.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

city	Bogotá
country	Colombia
region	Americas
classARentLocal	110000 COP/sqft/yr
classARentUsd	$28/sqft/yr
vacancy	14.6%
typicalLeaseYears	5
typicalRentFreeMonths	5
submarkets	5
primeYieldPct	7.8%

Frequently asked questions

What's a typical lease term in Bogotá?: 5 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Bogotá?: In COP/sqft/year. We also publish a USD-normalised view ($28/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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