Bogotá ($28/sqft, 14.6% vacancy) and Mexico City ($30/sqft, 22.6% vacancy) compete on different axes: Bogotá on rent and tax and Mexico City on talent depth.
Bogotá ($28/sqft, 14.6% vacancy) and Mexico City ($30/sqft, 22.6% vacancy) compete on different axes: Bogotá on rent and tax and Mexico City on talent depth.
| Metric | Bogotá | Mexico City |
|---|---|---|
| Region | Americas | Americas |
| Country | Colombia | Mexico |
| Class A rent (USD/sqft/yr) | $28 | $30 |
| Class A rent (local) | 110000 COP | 580 MXN |
| Vacancy | 14.6% | 22.6% |
| Trend | rising | flat |
| Prime yield | 7.8% | 7.4% |
| Premium flex / seat / month (USD) | $320 | $380 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 35% | 30% |
| Metric | Bogotá | Mexico City |
|---|---|---|
| Typical term | 5 yrs | 5 yrs |
| Typical rent-free | 5 mos | 6 mos |
| Lease norms | Net leases. 5-year terms with renewal options. Free rent of 3-6 months and TI of COP 350,000-700,000/sqm typical. | Net leases. 5-7 year terms with renewal options. Free rent of 4-9 months and TI of MXN 1,200-2,200/sqm typical. Most trophy leases are USD-pegged for international tenants. |
| Tax note | 35% Colombian corporate income tax. 19% VAT. ICA municipal tax of 0.4-1.4%. FTZ (Free Trade Zone) regime offers 20% rate plus VAT and customs benefits for qualifying activities. | 30% Mexican corporate income tax (ISR). 16% VAT (IVA). IMMEX (maquiladora) program offers temporary import duty deferrals for export-oriented manufacturing tenants. |
| Metric | Bogotá | Mexico City |
|---|---|---|
| Talent index (0–100) | 76 | 78 |
| Talent note | Deep banking, oil services, and BPO talent. Strong English fluency in international corporate. Strong feed from Universidad de los Andes, Universidad Nacional, Pontificia Javeriana. | Deep banking, professional services, and engineering talent. Strong feed from UNAM, IPN, ITAM, Tec de Monterrey. Spanish-English bilingual professional base growing rapidly. |
Bogotá: TransMilenio BRT (12 lines, the world's largest BRT system). Bogotá Metro Line 1 under construction (target 2028). El Dorado International Airport (BOG) bus-served.
Mexico City: Mexico City Metro (12 lines, the second-largest in the Americas), Metrobús BRT (7 lines), Tren Suburbano. Mexico City International Airport (MEX) connected via Line 4 BRT; new Felipe Ángeles International (NLU) bus-served.
Bogotá is the cheaper Class A market on a USD basis.
Mexico City has the deeper talent index (78/100 vs 76/100).
Mexico City has the lower headline corporate tax (30% vs 35%). Local incentives can change the effective rate materially.
Bogotá typical term is 5 years with 5 months free; Mexico City runs 5 years with 6 months free.
Bogotá: TransMilenio BRT (12 lines, the world's largest BRT system). Bogotá Metro Line 1 under construction (target 2028). El Dorado International Airport (BOG) bus-served. Mexico City: Mexico City Metro (12 lines, the second-largest in the Americas), Metrobús BRT (7 lines), Tren Suburbano. Mexico City International Airport (MEX) connected via Line 4 BRT; new Felipe Ángeles International (NLU) bus-served.
Score Bogotá, Mexico City and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.