São Paulo
In the fourth quarter of 2024, the corporate office market in São Paulo once again recorded growth in total stock, reaching 12.29 million m². This increase was driven by the addition of 131 thousand m² in new developments, surpassing the new stock from the previous quarter. Construction activity slowed down, totaling 534 thousand m² under construction.
A positive aspect was the reduction in the vacancy rate, which fell to 18.13%, corresponding to an unoccupied area of 2.22 million m². Absorption numbers also decreased, with gross absorption reaching 254 thousand m² and net absorption 116 thousand m². In terms of prices, there was an increase in the average rental asking price, which is now R$ 85.88/m² per month for the corporate market as a whole (Class A and Others).
In Corporate Class A buildings, the net absorption reached 99 thousand m², accompanied by a slight reduction in the vacancy rate, which now stands at 19.49%. On the other hand, Corporate Class Others buildings recorded a net absorption of 17 thousand m², indicating a drop compared to the previous quarter. The vacancy rate in this segment has also decreased, and is currently at 17.12%.
Occupancy, Vacancy Rate, New Stock and Construction Activity
Corporate (Class A and Others)
Net Absorption and Vacancy Rate
Corporate
Ocupantes’ methodology for classifying buildings can be summarized as follows:
“Corporate” type buildings: Suites with an area equal to or greater than 100 m². | “Office” type buildings: Suites with an area of less than 100 m².
“Class A” Buildings: Buildings with high technical specifications. | “Other Class” Buildings: Buildings with lower technical specifications.
Rio de Janeiro
In the fourth quarter of 2024, the corporate office market in Rio de Janeiro underwent some transformations compared to previous periods. The total stock is 5.52 million m². While construction activity remained stable for the tenth consecutive quarter, with 97 thousand m² under construction, other indicators revealed increasing dynamism in the market. The vacancy rate fell to 24.24%, representing approximately 1.34 million m² of unoccupied space.
For the ninth consecutive quarter, there was no record of new inventory. In relation to gross absorption, there was a movement of 60 thousand m², slightly lower than the previous quarter. On the other hand, net absorption increased to 36 thousand m², slightly higher than the previous quarter. Regarding prices, there was a small increase, with the average rental asking price reaching R$ 59.30/m² per month.
Corporate Class A office buildings suffered a significant decrease in net absorption, with only 19 thousand m², and the rate vacancy rate decreased to 30.86%. On the other hand, Corporate Class Others buildings had a net absorption of 17 thousand m² and a reduction in the vacancy rate to 20.94%.
Occupancy, Vacancy Rate, New Stock and Construction Activity
Corporate (Class A and Others)
Net Absorption and Vacancy Rate
Corporate
It is important to highlight that past trends do not guarantee future results. Ocupantes does not assume responsibility for decisions made based on this information.
The information presented in this document is updated based on the publication date and may undergo changes until the next edition.
