Even though the Brazilian economy surpassed the expectations of many economists, 2021 was another turbulent year. After a crisis-fraught 2020, it had been expected that 2021 would be a year of timid growth and slow recovery, as everything indicated that the pandemic would last for several months, hampering the return to business. In 2021, the economy recovered, and government accounts improved; it is expected that the GDP will experience growth, and the service industry shows that recovery is underway. However, unemployment remains high, inflation and the USD exchange are rising, the stock exchange is dropping, and an institutional crisis reveals the fragility of the current economic scenario.
New leases in high-end buildings in São Paulo went up in the fourth quarter, totaling 168 thousand sq.m, the best result all year. Gross absorption for the year was equivalent to 2017, the highest in the period between 2007 and 2017, suggesting that leases are back to pre-pandemic levels.Download Sao Paulo Office Market Report Q4 2021