Class B office market presents positive net absorption in São Paulo | 1H2023
Asking price falls in the city of São Paulo, while new stock forecast by the end of the year exceeds 60 thousand sqm.
Just like the high-end office market, São Paulo's class B office market ended the first half of 2023 with a positive net absorption scenario. According to data provided by JLL's Research and Strategy team, the index closed at approximately 36 thousand sqm, higher than the growth trend curve of 30 thousand sqm.
Currently, more than 12 buildings are expected to be delivered by the end of the year, adding an area of more than 60 thousand sqm to the current stock of class B buildings, currently at 4.6 million sqm. This new stock is planned in several locations across the city, both in regions with a corporate profile and in regions adjacent to corporate hubs.