Rio de Janeiro starts the year with a slight increase in vacancy | 1Q2023

Proximity to the public transport has been increasingly decisive in the choice of buildings by companies.

May 08, 2023

After four quarters of consecutive declines, the vacancy rate in the high-end office market in Rio de Janeiro increased at the beginning of 2023. According to JLL's First Look report, the index grew by 0.4 p.p., with the rise justified by the growth in the number of returns made, totaling 28.8 thousand sqm.

Public transport is increasingly decisive for locations

A scenario that has been increasingly seen in the capital of Rio de Janeiro is the high number of leases in developments close to the public transport network. The 1Q2023 showed absorptions in 29 buildings, 66% of which were located within 500m of a metro and/or VLT station. If we disregard the Barra da Tijuca region, which has only one metro station, the percentage of transactions in buildings with up to 500m from a metro and/or VLT, the index rises to 95%.

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