Corporate property returns in SP throughout the third quarter

O Globo

São Paulo ended the third quarter of the year with a negative balance of 59.9 thousand m² between new leases and returns of class A+, A and B corporate properties, according to unprecedented data from the SiiLA real estate intelligence platform.


Considering only high-end corporate properties in São Paulo, the vacancy rate at the end of the third quarter was 25.65%, an increase of 1.8 percentage points compared to the previous quarter.


According to the survey, the São Paulo Corporate Towers, a high-end complex in the capital, was one of the negative highlights, where more than 23 thousand sq metres were vacant. XP Investimentos left 5,500 sq metres, the "Fox" channel terminated the contract for another 3 thousand sq metres, and Uber's departure represented almost 8,500 sq metres less leased area.


In addition to returns, the average asking price of rent in projects A+, A and B increased. It reached R$81.21 per sq metres in the third quarter against R$79.93 per sq metres in the previous quarter.