São Paulo is home to the largest concentration of corporate slabs in Brazil, boasting 11 Central Business Districts (CBDs) monitored by the real estate intelligence research made by SiiLA. Among these regions, one has stood out for its performance in the second quarter of 2023: Paulista.

Comprising 12 high-end buildings with a total stock of 210.5 thousand square meters, the Paulista region has witnessed a significant decrease in vacancy rates from 1Q22 onwards, indicating positive prospects for the corporate office space market.

Historically, Paulista Avenue has consistently maintained low vacancy rates. To provide a clearer picture, since SiiLA began monitoring in 2016, the highest level of vacant offices compared to stock occurred in 3Q21, at 15.2%. The vacancy rate started declining in the subsequent quarter, with a sharp drop to 8.2% in 2Q22. A year later, in 2Q23, the rate reached 5.4%, marking one of the lowest historical levels, according to the Market Analytics platform.

This improvement in office occupancy rates signifies a promising trend for the Paulista region, which was once the city's foremost financial center before the development of areas like Berrini, Faria Lima, Chucri Zaidan, and their surroundings. Today, it remains one of São Paulo's most significant corporate hubs.

The continued demand for high-end spaces in the area can be attributed to various factors, with prime location being the chief driver. This locale's strategic positioning attracts a wide array of companies from diverse sectors. Beyond its role as a financial and commercial hub, the region offers access to a myriad of services, shops, restaurants, and cultural institutions.

The transport infrastructure further elevates Paulista's appeal. Multiple subway stations connect to different lines, ensuring swift access to various parts of the city. Bus corridors and a cycling lane that traverses the area end to end contribute to its high competitiveness for companies seeking easily accessible locations.

With the recent upturn in occupancy rates, Paulista solidifies its position as one of the city's foremost commercial zones, providing quality spaces for businesses to thrive in a dynamic and strategic environment. You can learn more about Paulista regions' assets and interesting facts about the region in this video presented by Giancarlo Nicastro, CEO of SiiLA.

Among the region's premium buildings stands Torre Matarazzo, which was recently featured in a special REsource content about the resilience of mixed-use complexes. With 13 floors and adjacent to Shopping Cidade São Paulo, the asset is fully occupied by a single tenant, Banco do Brasil.

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