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Curitiba Holds the Lowest Vacancy Rate for Class A+, A, and B Offices Among Brazilian Capitals; See the Companies That Occupy the Most Space in the City
- SiiLA platform monitors 387.902 thousand m² of office space in the city
- Average market value for office space is R$ 47.46/m²
By: SiiLA News
08/16/2024 In the second quarter of 2024, the city of Curitiba recorded the lowest vacancy rate for Class A+, A, and B offices among all cities analyzed by SiiLA's Market Analytics. During this period, the city’s vacancy rate (vacant area) was 10.50%, the lowest rate recorded in Curitiba since SiiLA began monitoring.
For comparison, during the same period, Rio de Janeiro registered a vacancy rate of 34% for the same types of assets. In São Paulo, the current vacancy rate is 21.94%.
According to the analysis for April to June 2024, the average market rent for office properties in the city was R$ 47.46/m².
SiiLA monitors seven corporate regions in the city: Rebouças, Mercês, Batel, Água Verde, Campo Comprido, Centro Cívico, and Centro. The city center of the Paraná capital has the lowest average market value, while the Rebouças area shows the highest average value. The chart below shows the weight of occupancy costs for each region.
Among the sectors that occupy the most Class A+, A, and B office space in Curitiba are: Business Products and Services, accounting for 18.5% of the occupied stock; Finance, Insurance and Real Estate (FIRE), with 18.1%; Government/Nonprofit, with 16%; Technology, Advertising, Media and Information (TAMI), with 12.3%; and Public Services, with 9.8%.
It is worth noting that the Business Products and Services sector includes companies mainly operating in accounting and intelligence services, consulting, general management, human resources, and others.
The Market Rent is a new metric launched by SiiLA in Brazil for real estate asset pricing analysis. To determine the precise value of a real estate asset, various factors are analyzed, such as property availability, location, construction standards, rental price history, demand, commercial conditions, and other assets available in the same region.
ABOUT SiiLA
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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