Faria Lima and Itaim Bibi Outpace Inflation, While the Rest of São Paulo Falls Behind

The general market analysis excludes Faria Lima and Itaim Bibi, as these two districts perform differently from the rest of the city. Including them would distort the overall numbers and lead to less accurate conclusions.

From 2016 to 2021, transacted rents generally stayed above the IGP-M, but dropped sharply during the early years of the pandemic, only starting to recover in 2023. However, by 2025, they still remain below IGP-M levels.

When compared to the IPCA, rent trends appear more stable and less volatile. Even with the decline recorded in 2022, rental values in 2025 remain aligned with the IPCA benchmark.

Itaim Bibi followed patterns similar to the general market until a shift occurred between 2022 and 2023. With a shortage of small office spaces in Faria Lima, developments close to the avenue secured major leases during that period.

According to SiiLA’s intelligence team, buildings with smaller floor plates tend to have proportionally higher rent values. Proximity to the city’s financial core also drives certain properties to command inflated prices.

Faria Lima consistently stayed above both IPCA and IGP-M inflation adjustments — except between 2022 and 2023. The delivery of landmark developments such as B32 and Faria Lima Plaza, along with major leases in Plaza Iguatemi and Miss Silvia Marizono, helped push the district’s average rents higher.

As a result, current Faria Lima rental prices exceed both IGP-M and IPCA adjustments. These numbers highlight not only the district’s importance but also how it operates under a market dynamic entirely different from the rest of São Paulo.