Sao Paulo Office Market Report

The external environment is challenging, with uncertainties regarding economic slowdown in the U.S. and the Fed’s stance. In Brazil, economic and employment indicators have exceeded expectations, leading to a revision of the GDP growth projection for 2024, which rose from 2.3% to 3.2%. Despite this, slower growth is anticipated in the second half of 2024, with a forecast of 2% for 2025.

2024 office market indicators show a consistent recovery in the real estate market, with a net absorption of 220,5 thousand m², nearly double the historical average of 120 thousand m². This indicator is expected to approach recorded in 2017, which was the best result in the historical series.