Fall in vacancy shows resumption of movement and new business in Rio | 2Q2021

According to the First Look study, by JLL, Rio de Janeiro returned to registering positive net absorption.

August 16, 2021

The vacancy rate continued to fall in the high-end office market in Rio de Janeiro in the second quarter, driven by the growth in movement and new business. According to JLL's First Look study, the variation is 1.3 p.p., compared to the previous period.

Net absorption was positive at 24.6 thousand m², with average prices in the city down by 2.1%. The financial sector was responsible for the majority of leases, followed by Health, Digital Services, Construction and Specialized Services.

For the next quarters, pre-leases are planned in the city of Rio de Janeiro, aimed at the Porto Maravilha regions of Barra da Tijuca, which indicates a positive outlook for the capital of Rio de Janeiro.

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