What is the average Class A rent in Mexico City?

Around 580 MXN/sqft/yr ($30 USD) across the broader Class A index. Trophy submarkets like Paseo de la Reforma command 20–40% above that.

How many months of rent-free are normal in Mexico City?

6 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Mexico City?

The Mexico City Class A market is currently flat. Vacancy is 22.6%, which sets the negotiating context.

Headline Class A rent in Mexico City is around 580 MXN/sqft/yr ($30 USD), with 6 months of typical rent-free on a 5-year term.

Headline Class A rent: 580 MXN/sqft/yr ($30 USD).
Trophy submarket rents (Paseo de la Reforma) push to roughly MX$700/sqm/mo · ≈ $40.6 PSF/yr USD.
Typical concessions on a 5-year deal: 6 months free rent.
Vacancy stands at 22.6% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Mexico City Class A office rents and incentives

Headline Class A rent in Mexico City is around 580 MXN/sqft/yr ($30 USD), with 6 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: 580 MXN/sqft/yr ($30 USD).
Trophy submarket rents (Paseo de la Reforma) push to roughly MX$700/sqm/mo · ≈ $40.6 PSF/yr USD.
Typical concessions on a 5-year deal: 6 months free rent.
Vacancy stands at 22.6% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Mexico City are quoted in MXN per sqft per year. Across the broad Class A index the figure is 580, but the trophy tier in Paseo de la Reforma reaches roughly MX$700/sqm/mo · ≈ $40.6 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Mexico City concessions on a 5-year Class A lease run to 6 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — 30% Mexican corporate income tax (ISR). 16% VAT (IVA). IMMEX (maquiladora) program offers temporary import duty deferrals for export-oriented manufacturing tenants.

Where rents land by submarket

Paseo de la Reforma sits at the top end (~MX$700/sqm/mo · ≈ $40.6 PSF/yr USD). Insurgentes / Condesa-Roma clears around MX$500/sqm/mo · ≈ $29 PSF/yr USD as the prime tier. The full submarket map is on the Mexico City city page.

Key facts

city	Mexico City
country	Mexico
region	Americas
classARentLocal	580 MXN/sqft/yr
classARentUsd	$30/sqft/yr
vacancy	22.6%
typicalLeaseYears	5
typicalRentFreeMonths	6
submarkets	5
primeYieldPct	7.4%
trophyRent	MX$700/sqm/mo · ≈ $40.6 PSF/yr USD
primeRent	MX$500/sqm/mo · ≈ $29 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Mexico City?: Around 580 MXN/sqft/yr ($30 USD) across the broader Class A index. Trophy submarkets like Paseo de la Reforma command 20–40% above that.
How many months of rent-free are normal in Mexico City?: 6 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Mexico City?: The Mexico City Class A market is currently flat. Vacancy is 22.6%, which sets the negotiating context.

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

Full sources index · Submit a correction