São Paulo CBDs See Rise in Net Absorption and Decline in Vacancy in H1 2025

Recent data from SiiLA’s Market Analytics shows that net absorption in São Paulo’s office market (Classes A+, A and B) in CBD areas regained momentum in the first half of 2025, with 131,000 m² absorbed — above the average seen in previous years.

The strong performance was driven primarily by the first quarter, which recorded 70,200 m² of net absorption — the second-best quarterly result since 2022 and a clear sign that the market is on a recovery path. The second quarter also performed well, with 60,800 m² of net absorption. This trend coincides with a continued decline in vacancy rates, which dropped to 17.5%, the lowest level in the analyzed series.

Between April and June, gross absorption — the total volume leased — reached 154,500 m², bringing the H1 total to nearly 342,200 m².

Even with new supply entering the market — approximately 37,000 m² across the first two quarters — the occupancy rate increased, indicating that demand for well-located, high-standard office space is swiftly absorbing new deliveries.