JLL study points to significant appreciation in rental prices and new inventory above the average of the last two years
10 August 2026
Insight
10 August 2026
High-standard offices reach lowest vacancy rate in 17 years in São Paulo - Q2 2026
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David Aguiar
For another consecutive quarter, the vacancy rate for high-standard offices in São Paulo recorded a decline. The index closed the first half at 13.1%, the lowest recorded in the city in the last 17 years by JLL. According to the consultancy's study, the market has already reached 48% – 336,000 sqm – of the gross absorption projected for 2026 and accounted for the delivery of 24% of the new inventory expected for the year.
The average rental price rose 13.7% in the last year and accumulates an increase of 32.7% since the first quarter of 2024. These values are driven by the large volume of transactions and by submarkets such as Berrini and Vila Olímpia. This is the 8th consecutive quarter with transactions recorded above 10,000 sqm.
"We have reinforced with our clients that occupiers seeking large-scale spaces are encountering difficulties. The supply of corporate floor plates above 10,000 sqm has decreased from 17 to 7 buildings, forcing companies to seek other alternatives," analyzes Yara Matsuyama, Leasing Director at JLL.
Some submakets have vacancy rates well below the city average. This is the case of Paulista (2.8%) and Rebouças, which continues with 0% vacancy for the second consecutive quarter. "We should not see the rate rise in Rebouças anytime soon because all the inventory to be delivered in the submarket is already pre-leased. In the case of Paulista, there is no forecast for new high-standard developments in the short term," reveals David Aguiar, Research and Strategy Analyst at JLL.
Among the largest absorptions of the period are 11,200 sqm by Claro in Chucri Zaidan, 9,000 sqm by Braskem in Chácara Santo Antônio, and 4,500 sqm by BTG Pactual in Nova Faria Lima. "In this scenario, it is worth highlighting the performance of Chácara, which given the scarcity of floor plates above 10,000 sqm in various parts of the city, has proven to be an attractive hub, with quality developments and good infrastructure," points out Matsuyama.