Rise in Luxury Office Rental Prices in Porto Alegre

Porto Alegre registered a 5.5% increase in the proposed price on rental of high standard offices over 2014. In the fourth quarter, the price of the rated square meter was estimated in R$ 62.45, against R$ 59.16 in the same period in 2013. Data from the last Market Beat survey from the American advisor Cushman & Wakefield.

The vacancy rate (vacant rooms) was 2.9% against 2.5% in previous year. "The capital city of Rio Grande do Sul has presently one of the lowest vacancy rate in Brazil, especially when compared with big cities such as São Paulo, which reported 20.2% rate", said Gustavo Garcia, Market Research Manager at Cushman & Wakefield South America.

The current stock of class A buildings in the city is the total amount of 219,256 square meters, and more 20,700 square meters being constructed.