Rio de Janeiro Office Report | Q4 2024
Movements in Orla and Centro regions were crucial for the good performance of Rio's office market.
The vacancy rate in Rio de Janeiro decreased to 31% in the fourth quarter of 2024, reaching its lowest level in the last 11 years in the city. The rate decreased by 1.0 percentage point compared to the previous quarter and 4.1 percentage points compared to the same period last year.
The Orla region contributed significantly to this result, with a drop of 4.4 percentage points compared to the previous quarter and 11.8 percentage points compared to the same period last year, highlighting expansion transactions of companies already in the region, such as Equinor and Light Distribuidora. The Centro region reduced its vacancy by 1.2 percentage points compared to the last quarter and by 2.3 percentage points compared to the same period last year, continuing to be important for the recovery of Rio's corporate market.