São Paulo
In Q1 2022 the total stock of office space in the city of São Paulo increased slightly to 11.65 million m², of which 21 thousand m² was new stock. The vacancy rate in the period increased slightly to 20.93% which represents 2.44 million m² of vacant space. Construction activity increased to 476 thousand m². On the demand side, gross absorption (which is a measure of the amount of both new and used space being rented) increased to 242 thousand m². The average asking rent reduced to R$68.10/m²/month.
The stock of corporate Class A office buildings in the city of São Paulo recorded a positive net absorption of 30 thousand m² and a vacancy rate that increased to 22.18%. The stock of corporate buildings Class “Others” recorded a negative net absorption of 65 thousand m² and a vacancy rate of 20.08%.
Occupancy, vacancy rate, construction activity and new stock
Corporate (Class A and Others)
Net Absorption and Vacancy Rate
Corporate
Rio de Janeiro
In Q1 2022 the total stock of office space in the city of Rio de Janeiro the total office stock in the city of Rio de Janeiro remained unaltered at 5.52 million m², with no new office buildings delivered. The vacancy rate in the quarter rose slightly to 26.52% which represents 1.44 million m² vacancy. Construction activity remained unchanged at 100 thousand m². On the demand side, gross absorption increased to 71 thousand m². The average asking rent reduced further this quarter to R$61.67/m²/month.
The stock of corporate Class A buildings in the city of Rio de Janeiro recorded positive net absorption of 8.5 thousand m² and a vacancy rate that reduced slightly to 39.54%. The stock of corporate buildings Class “Others” recorded a negative net absorption of 12 thousand m² and an increasing vacancy rate of 19.74%.
Occupancy, vacancy rate, constructive activity e new stock
Corporate (Class A e Others)
Net Absorption and Vacancy Rate
Corporate
