Scarcity of large spaces and Faria Lima prices put Vila Olímpia on companies’ radar
- Bruno Milan discusses the decline in vacancy in Vila Olímpia, the price gap compared with Faria Lima, and companies’ growing interest in the area
The shortage of large spaces available in São Paulo’s main corporate districts, combined with the high cost of occupancy in areas such as Faria Lima, is expanding the range of alternatives companies are considering when searching for new office space.
In this context, Vila Olímpia is gaining attention. Located next to Faria Lima, Itaim Bibi and Juscelino Kubitschek Avenue, the area combines an established corporate office stock, access to Marginal Pinheiros and lower rental rates than those found in the city’s main financial district.
Data show that the vacancy rate for A+, A and B office buildings fell from 18.29% at the end of 2021 to 12.30% in the first quarter of 2026.
According to Bruno Milan, commercial director at MAXCORP, the trend does not necessarily represent companies moving away from areas such as Faria Lima, but rather a redistribution of demand across different corporate districts.
“Faria Lima remains one of Brazil’s leading corporate addresses and will continue to play a very important role in the market. What has changed is the relationship between availability, price and companies’ needs,” he says.
According to Milan, the limited supply of large spaces is already beginning to restrict the options available to companies looking to consolidate their operations at a single address.
“Today, there is a significant shortage of large spaces in São Paulo’s main corporate districts. The number of buildings capable of offering more than 10,000 square meters of contiguous space has fallen from 17 to just 7. Areas such as Faria Lima, Itaim, Paulista and Vila Olímpia are already facing this constraint in terms of large spaces,” he explains.
Price is also an important factor in the decision. Milan notes that “in the second quarter of 2026, for example, the average asking rent on Faria Lima was R$293.08 per square meter, compared with R$194.80 in Vila Olímpia.”
“So, I do not see Vila Olímpia as a replacement for Faria Lima. I see it as an extremely competitive corporate alternative, particularly for companies that need to balance location, quality and occupancy efficiency,” he says.
According to Milan, this price difference encourages companies to evaluate not only the address itself, but also the total cost of occupancy, including floorplate efficiency, parking, expansion potential and building quality.
Infrastructure also influences the decision
In addition to its proximity to some of São Paulo’s main corporate districts, Vila Olímpia has a high concentration of restaurants, hotels, shopping malls and services, as well as access to Line 9-Emerald of the metropolitan rail network, factors that also influence companies’ location decisions.
Milan also highlights the range of sizes and configurations available in the area. MAXCORP’s assets in the region include Station Milan Offices, with approximately 4,000 square meters.
“One company may be looking for a more compact operation today, while another may need a significantly larger space. Another may be planning an expansion and need the flexibility to grow,” he says.
In the executive’s view, it is precisely this combination of location, infrastructure, variety of properties and price differences that could increase Vila Olímpia’s role in companies’ real estate decisions over the coming years.
