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Corporate property returns in São Paulo and Rio de Janeiro
- In Rio de Janeiro, the fourth quarter’s vacancy rate was 33.17%, slightly higher than the 32.08% recorded in the first quarter.
By: SiiLA News
01/20/2021 Corporate leasing suffered from the COVID-19 pandemic. Between October and December, the balance between new entries and returns from high-end offices in the key commercial regions of São Paulo was negative at 24.6 thousand square metres.
The vacancy rate reached 19.3%, higher than the 18.4% in the previous quarter, according to unpublished data from the real estate consultancy SiiLA.
In the city’s general market, considering properties A +, A and B, the fourth quarter of 2020 closed with a negative balance of inflows and returns of offices of -70.3 thousand square metres, with a vacancy rate of 17.96%.
In Rio de Janeiro, the fourth quarter’s vacancy rate was 33.17%, slightly higher than the 32.08% recorded in the first quarter.
The balance between new entries and returns from offices in the city reached, on average, -9.6 thousand square metres. The city centre was the most affected region with a balance of -12.7 thousand square metres in the last quarter of the year.
Source: O Globo
Read full story (in Portuguese).
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