Vacancy rate falls again, and the market remains hot at the start of the year.
In the first quarter of this year, São Paulo achieved the lowest vacancy rate for high-end offices since the beginning of the pandemic, 18.3%. The heated market increased the asking price by 15% compared to the beginning of 2024, reaching R$109/m², according to data from the First Look survey, carried out by JLL. The survey also points to the expressive results of gross and net absorption - 187,000 m² and 105,000 m², respectively.
“In general, in the first quarter of the year, we see companies moving less, but that's not what happened in 2025. The market is hot and deals are happening,” says Yara Matsuyama, director of JLL's Office Division.
All the regions monitored by the city study recorded positive net absorption. Most of the demand for corporate space in the primary regions was concentrated in the axis between Berrini and Chucri - 70%. Continued interest in these locations has led to a decrease in the availability of large condominiums there. Of the nine developments at the end of last year with vacant areas of more than 10,000 m², only five still have space available for rent. Vacancy in both areas is below the city average: 13.4% in Berrini and 16.5% in Chucri.