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São Paulo’s Class A+ and A Office Vacancy Rate Drops to 22.8% but Remains Higher in Some Areas
- Of the 18 regions analyzed, only 10 have improved vacancy rates compared to the peak of the pandemic
By: SiiLA News
03/06/2025 São Paulo’s Class A+ and A office vacancy rate currently stands at 22.8%, a decline from the 25.2% recorded at the peak of the pandemic. However, the Market Analytics data from SiiLA reveals that some regions have recovered better than others.
Among the 18 regions analyzed, only 10 have lower vacancy rates today compared to Q3 2021, the most critical period of the pandemic. Meanwhile, eight regions still struggle with higher vacancy rates than they had at that time.
Two regions require special consideration. Tatuapé recently welcomed its first Class A building, Almagah 227, meaning the region had no vacancy in 2021. Meanwhile, Moema remains unchanged, maintaining a stable 8.93% vacancy rate.
Biggest Improvements
The Jardins region showed the most significant improvement, reducing its vacancy rate from 54.1% in Q3 2021 to 0% today. The recovery was driven by major leases, including BeFly Turismo at Paulista Star (9,700 m²), SulAmérica at Jorge Salomão (8,600 m²), and Link School, which took 6,200 m².
The Paulista region recorded the second-best improvement, dropping from 15.2% to 1.2% (a 14% decrease). The largest lease in the area was Unimed, which occupied 7,400 m² at Jardins J. Safra Corporate.
Another notable recovery came from Chucri Zaidan, a region often debated for its volatility. Vacancy dropped from 32.7% to 19.9% (a 12.8% decrease), with Kavak securing 9,000 m² at Parque da Cidade.
Maiores Aumentos na Vacância
The worst-performing region was São Paulo’s downtown area, where vacancy surged from 0% to 57.4%. This sharp increase resulted from Contax vacating 19,000 m² at Edifício Alegria.
Another significant decline was recorded in Itaim Bibi, where the vacancy rate rose from 0% to 43.1%. Despite Meta leaving the Infinity Tower, where the company occupied 9,000 sqm, this was not the cause of the vacancy increase, as the space has already been reoccupied. The main reason for the higher vacancy rate was the delivery of two new assets, JK Square and JHA.
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Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.
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