Rio de Janeiro ends 2023 with positive net absorption and drop in asking price | 4Q2023

The city of Rio de Janeiro is witnessing the consolidation of the financial segment, responsible for the largest number of transactions.

Fevereiro 19, 2024

The high-end corporate office market ended the year with good results and positive prospects in Rio de Janeiro. Net absorption, negative in the first two quarters of 2023, grew considerably in the second half of the year, with an accumulated amount of almost 5 thousand m².

The capital of Rio de Janeiro maintained its vacancy rate at the same level as in 3Q2023. There was no change due to the volume of returns and absorptions being very close. In a comparison with 4Q2022, the difference was -1.3 p.p., demonstrating a gradual drop in the vacancy rate to the current level. The market remains heated, with the prospect of a gradual improvement in the indicator in the first quarters of 2024.

Financial market ends the year on a high in Rio de Janeiro

The financial segment was responsible for the largest number of transactions, totaling 16.7 thousand m², equivalent to 23.1% of the year's absorptions. The segment alone corresponds to a total of 18% of the market's occupied area, with 57% being absorbed in the Porto Maravilha region.

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