Office market in São Paulo records a high volume of leases | Q2 2024
More than 93,000 sqm was absorbed in Q2 2024. With only 27,000 sqm returned, the quarter showed similar net absorption values to the pre-pandemic period (65,000 sqm).
After five consecutive quarters of positive net absorption in the office market in São Paulo, Q2 2024 recorded the second highest value in the post-pandemic period, exceeding 65,000 sqm in net absorption. Moreover, when comparing the net absorption in this semester with the same period in 2019, the last year before the pandemic, the results were three times higher, indicating a possible recovery in the high-end real estate market.
It is worth noting that one of the variables responsible for the positive result was the number of returns. With only 27,500 sqm returned, 1/3 of the space returned in the same quarter last year, the numbers represented the best result in the last six years.
