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Costa Rica faces oversupply of office space

Monday, August 19, 2013

Costa Rica's available office building space is growing, but demand is dropping, Costa Rican daily La República reported.

Foreign companies increasingly require less space to set up operations and more specialized services, drawing companies away from traditional office blocks.

Office buildings accounted for some 1 million square meters of construction in San José in the first quarter of the year, of which more than 11 percent remain unoccupied, according to an analysis by Colliers International.

Full story (in Spanish)