Almost 25% of Brazil’s São Paulo high-end offices still vacant during pandemic

The pandemic has forced companies to adopt the remote working model, with a negative impact on São Paulo's high-end office market.

RIO DE JANEIRO, BRAZIL - In the second quarter this year compared to the same period in 2020, vacancy in these units increased, on average, 7.6 percentage points and reached 24.9%, according to a JLL consultancy research.

Although the office situation has been worse, the rebound is still slow and uneven. Thiago Duarte and André Romano, from the consultancy's capital markets team, explained the data and discussed projections.

The pace of negative absorption (more property deliveries than occupancy) slowed down compared to previous quarters.

According to the analysts, there was a lower pace of unit returns and more . . .

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