São Paulo office market has worst occupancy rate in 13 years in Q1 2021

The sector's vacancy rate increased two percentage points in relation to December, to 21.2% at the end of March, according to SiiLa.

RIO DE JANEIRO, BRAZIL - With more companies being forced to postpone the return of work to corporate spaces, due to social isolation measures imposed by the worsening of the pandemic, the office market in São Paulo continues to show an increase in returned leases and, consequently, in the vacancy rate.

According to data from consultancy SiiLA, the high-standard office industry (A+ and A) in the city of São Paulo registered a negative net absorption of 31,000 square meters in the first quarter of this year.

The net absorption corresponds to the volume of square meters that . . .

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