São Paulo
In the first quarter of 2025, the corporate office market in São Paulo recorded a total inventory of 12.30 million m². This figure was achieved with the addition of 15,000 m² in new developments, lower than the new inventory in the previous quarter. Construction activity, on the other hand, accelerated, totaling 615,000 m² under construction.
One positive aspect was the reduction in the vacancy rate, which fell to 17.53%, corresponding to an unoccupied area of 2.15 million m². Absorption figures also changed, with gross absorption increasing to 288,000 m² and net absorption decreasing to 69,000 m². In terms of prices, there was a stabilization at R$85.96/m² per month for the corporate market as a whole (Class A and Others).
In Corporate Class A buildings, net absorption reached 92,000 m², accompanied by a slight reduction in the vacancy rate, which now stands at 17.85%. On the other hand, Corporate Class Other buildings recorded a negative net absorption of 23,000 m², indicating a large drop compared to the previous quarter. The vacancy rate in this segment, on the other hand, increased and is currently at 17.30%.
Occupancy, Vacancy Rate, New Stock and Construction Activity
Corporate (Class A and Others)
Net Absorption and Vacancy Rate
Corporate
Ocupantes’ methodology for classifying buildings can be summarized as follows:
“Corporate” type buildings: Suites with an area equal to or greater than 100 m². | “Office” type buildings: Suites with an area of less than 100 m².
“Class A” Buildings: Buildings with high technical specifications. | “Other Class” Buildings: Buildings with lower technical specifications.
Rio de Janeiro
In the first quarter of 2025, the corporate office market in Rio de Janeiro underwent some changes compared to previous periods. The total inventory is 5.49 million m². After 10 consecutive quarters, construction activity stood at 118 thousand m² under construction, other indicators revealed increasing dynamism in the market. The vacancy rate fell to 23.53%, representing approximately 1.29 million m² of unoccupied space.
For the tenth consecutive quarter, there was no record of new inventory. Regarding gross absorption, there was a movement of 76 thousand m², higher than the previous quarter. Net absorption decreased to 13 thousand m², lower than the previous quarter. Regarding prices, there was a small increase, with the average asking rental price reaching R$ 59.47/m² per month.
Corporate Class A buildings saw an increase in net absorption, with only 19,000 m², and the vacancy rate decreased to 29.22%. On the other hand, Corporate Class Other buildings had a negative net absorption of 6,000 m² and a reduction in the vacancy rate to 20.70%.
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.
