Positive indicators for Faria Lima reveal the region’s strength in an atypical year | 4Q 2020
New inventory was responsible for injecting more than 270 thousand m² in the rental market.
For the third consecutive period, the vacancy rate for high-end corporate properties in the city of São Paulo registered growth. In the fourth quarter of 2020, the index marked 22.4%, an increase of 3 p.p. in relation to the previous measurement, as pointed out by the First Look study, from JLL.
According to the JLL survey, the period had a negative net absorption of 25.5 thousand². However, some regions resisted this scenario and ended the year with a positive indicator, such as: Faria Lima (35 thousand m²), Paulista (4.5 thousand m²), Chácara Santo Antônio (2.6 thousand m²), JK (2, 2 thousand m²) and Marginal Norte (0.5 thousand m²). In the case of Faria Lima, the highlight was on account of Birmman 32, which has 62% of its pre-leased or absorbed area.
For 2021, another 208.2 thousand m² of new inventory are expected to be delivered. The volume should impact absorption and the vacancy rate, which should maintain the upward trend.