The extension of social distancing measures and the lack of prospect for the normalisation of activities led many companies to rethink their business models and work environment in 2020, directly affecting the office rental market.
Itaú Unibanco, Latam, GetNet, Oracle and Coca-Cola are among the companies that have surrendered to remote work and have devolved spaces last year.
According to data from research company SiiLA Brasil, the balance between new office rentals and devolutions, considering properties “A +”, “A” (high standard) and “B” in São Paulo, was negative at 70.3 thousand metres squares in the fourth quarter of 2020.
Year-to-date, net absorption (inflows fewer returns) was also in the red, at 119 thousand square meters.It was the first negative annual result for the sector since 2016 when SiiLA started to survey. In 2019, new leases had surpassed devolutions by 259,900 square meters.
The vacancy rate in the segment was 18.2% in the last year, above that recorded in 2019, at 14.6%, but below 18.51% in 2018. In Giancarlo Nicastro’s assessment, CEO of SiiLA Brasil , this behaviour should continue in the coming quarters.
Read more: https://siila.com.br/news/detail/14858740