The economic recovery has slowed down all around the world in recent months, in part due to new outbreaks of Covid-19 in China, and in part due to the conflict between Russia and the Ukraine, both of which have significantly impacted economic activity and global inflation. Brazil experienced unexpected growth in the first quarter of the year, and all indications are that this will also be the case in the 2nd quarter. As a result, the most recent Central Bank inflation report, published on June 30, now expects the GDP may grow 1.7% this year, an improvement over the 0.5% expected early in the year.
Although timid, new leases outpaced deliveries in most regions, and net absorption ended the quarter at 2 thousand sq.m. The vacancy rate remained almost unchanged, going from 33.45% to 35.37%.Download Rio de Janeiro Office Market Report Q2 2022