Office rental prices rise in Rio de Janeiro and São Paulo

Commercial office rental prices in major Brazilian cities, Rio de Janeiro and São Paulo, have reached significant highs due to increased demand and decreasing vacancy rates.

In Rio de Janeiro, high-end office rents hit a six-year high in the third quarter of 2026, averaging R$ 92 per square meter. This represents an increase of over 8% compared to the same period in 2025. The vacancy rate in the city fell from 22% to 18% over the last 12 months. Experts attribute this trend to a scarcity of new corporate developments and rising demand in areas such as Centro, Cidade Nova, and Porto.

In São Paulo, high-end office rents reached a record average of R$ 144 per square meter in the third quarter, a 16% year-on-year increase. The vacancy rate in these buildings dropped to 12.9%. The surge is driven by companies returning to in-person work following the pandemic and businesses expanding their operations. In premium districts like Faria Lima, average rents are reported to be as high as R$ 320 per square meter, with some newer buildings exceeding R$ 400 per square meter.