The Rio de Janeiro office market has been impacted in recent years by a series of crises that led to the return of corporate floors, such as Petrobras in 2017, and during the Covid-19 pandemic, especially in 2020 and 2021. Now, high-end ventures are beginning to indicate a possible recovery.

According to data from SiiLA's Market Analytics platform, the vacancy rate at the end of the fourth quarter of 2022 was 32.19%, compared to 33.03% in the previous period.

At the end of 2021, Rio had 33.95% of vacant spaces, the highest rate recorded during the health crisis. In 2020 and 2021, net absorption (which indicates the amount of leased spaces minus those returned) was negative and ended 2022 with 33,000 m².

In summary, net absorption is the metric that indicates the difference between the areas actually leased and returned during a certain period.

SiiLA's data from the Market Analytics platform was highlighted in a report by O Globo newspaper. It is possible to see in detail an important movement that helped the city to achieve this recovery.

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