Gross absorption grows, but deliveries impact vacancy in São Paulo | 2Q2021
With a drop in the number of returns, an increase in transactions is expected in the second half.
The market for high-end offices in São Paulo followed its pace of recovery in the second quarter. Gross absorption grew, mainly in the Marginal Central region, which registered a good volume of occupations, and brought good prospects for an increase in transactions for the second half of the year.
The period was also marked by the delivery of new stock which, added to the registered returns, contributed to the increase in vacancy, according to JLL's First Look.
The average asking price in São Paulo also increased compared to the first quarter of 2021 (6.4 p.p.). According to Yara Matsuyama, Lease Director for JLL's Office Division, the index is justified by new, more modern and well-located developments, which continue to push the values up.