Business · Economy · 1 hr ago
São Paulo office rents reach record as more companies return to offices
Office rents in São Paulo have reached a record as more companies bring staff back to in-person work and some expand their teams.
In high-end buildings, the average advertised rent was R$144 per square meter in the third quarter, up 16% from a year earlier.
The share of vacant space in those buildings fell to 12.9%, from 15.1% a year earlier.
Rents are also rising in areas outside the city’s most central business districts, where companies have looked for more available and less costly offices.
In the central districts of Itaim, Juscelino Kubitschek and Faria Lima, average rents are around R$320 per square meter.
Even at record levels, rents remain below what they would be if adjusted for inflation since 2015, after years of weak demand and space being returned.
Building owners may seek to revise contracts in the coming months, and higher rental returns could encourage property sales and new construction.
São Paulo office rents reached a record average asking price of R$ 144 per square metre in the third quarter.
The increase comes as more companies return to in-person work and some expand, raising demand for office space.
Vacancy in high-standard office buildings fell to 12.9% in the third quarter, down from 15.1% a year earlier.
Rents in central districts such as Itaim, Juscelino Kubitschek and Faria Lima average about R$ 320 per square metre.
Despite the record, rents remain below levels they would have reached if adjusted for inflation since 2015.
- Who
- Companies seeking office space and owners of office buildings in São Paulo.
- What
- Office rents reached a record, while the share of vacant space declined.
- When
- In the third quarter; the article was published on October 13, 2026.
- Where
- São Paulo, Brazil, including central and non-central office districts.
- Why
- More companies are returning to in-person work or expanding, increasing demand for office space.
This story does not have two clearly opposing sides.
The office market faced successive crises, including Brazil’s recession and the arrival of the pandemic.
The average asking rent for high-standard buildings was R$ 124 per square metre, and vacancy was 15.1%.
The average asking rent reached R$ 144 per square metre, while vacancy fell to 12.9%.
- Average asking rent
- R$ 144 per square metre in the third quarter
- Annual rent increase
- 16% from the third quarter of 2025
- Vacancy rate
- 12.9% in the third quarter, compared with 15.1% a year earlier
- Central districts
- About R$ 320 per square metre in Itaim, Juscelino Kubitschek and Faria Lima
- Inflation-adjusted estimate
- R$ 209 per square metre if adjusted by IPCA from 2015
What people are saying
The increase in rent reflects the fall in overall market vacancy. Supply and demand are making prices recover.
Today, non-central regions are also seeing prices rise.
We are still far from recovering what happened over the last ten years.
Sources
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