The high-end office market in São Paulo maintains a positive trajectory and is on track to record a historic absorption record and the lowest vacancy rate in 14 years. The index closed the third quarter of 2025 at 16.2% – the tenth consecutive drop. In response to demand, the average asking price in the city reached BRL 115/sqm, up 3.8% in the quarter and 14.9% over 12 months.

"The occupancy movement has shown consistency throughout the year and reinforces the trend toward balance between new contracts and returns. This scenario, combined with the gradual reduction in vacancy, requires companies to do greater planning to secure the desired spaces," says Yara Matsuyama, Office Leasing Director at JLL.

During the quarter, gross absorption was 175,000 sqm, with 50,000 sqm of net absorption. In the 2025 accumulated results, the figures reach 524,000 sqm of gross absorption and 247,000 sqm of net absorption, representing 77% of the annual projection already completed. There were two transactions above 10,000 sqm – Sesc, in Centro, and Arise Gaming, in Chácara Santo Antônio. In the year's accumulated results, there were eight leases of this magnitude, the highest volume since 2016. Areas like Nova Faria Lima and Itaim no longer have available spaces of this size.

"The supply of large floor plates remains limited and, in some submarkets, practically exhausted. This is a factor that supports the advance in values and increases competitiveness in central regions," Yara adds.

With the quarter's results, the market advances to deliver the best absorption performance in the historical series, while simultaneously consolidating the post-pandemic vacancy decline trend.