The market for high-end offices in São Paulo remained very active in the 3rd quarter. Demand indicators were positive, exceeding those of 3Q22. Occupancy rates were up in almost all areas, while dropping slightly in Paulista, Marginal Sul, and JK by 3.6 thousand, 2.7 thousand, and 1.5 thousand sqm respectively. New deliveries dropped this quarter, and, combined to intense leasing activity, resulted on a drop in vacancy rate to 24.0% (vs. 24.7% in the previous quarter).
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Sao Paulo Office Market Report
Q3 2023
Demand indicators, while slightly down compared to the previous quarter, remain positive and are better than they were one year ago.
