[Updated Oct 2020] A guide to serviced offices and office space for rent in Sao Paulo as well as general information that may be useful if you are considering renting office space in the city.
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History & Geography
As the largest city in the southern hemisphere, Sao Paulo is a regional giant of commerce and culture. The city is located in the southeast of the country on a plateau of the Serra do Mar mountain range. Sao Paulo is approximately 40 miles from the Atlantic Ocean and both the Tiete and Pinheiros Rivers flow through the city. Sao Paulo was originally known as Sao Paulo dos Campos de Piratininga and was founded as a Jesuit college in 1554. Over time a village grew up around the college, but for the next two centuries remained fairly poor with a small population of farmers and artisans. Frequent Indian raids also made life hard for the early residents of the settlement. However, when gold was discovered in the surrounding regions prospectors and traders flocked to Sao Paulo and its population grew quickly. In the mid-18th century, the deposits of gold were tapped out and the region turned to sugar cane cultivation, an industry which grew quickly and out of which the area prospered. Towards the end of the 18th century the first road between Sao Paulo and the coast was built, the Walk of Lorraine. After Brazil gained independence in 1822 Sao Paulo was awarded the title of an imperial city. Additionally, the cultivation of coffee also grew into a major industry in Sao Paulo and at the same time, the city saw large numbers of students and teachers move to the city. Sao Paulo became known as the ‘Imperial City and Borough of Students of St. Paul Piratininga’. Around the middle of the 20th century, Sao Paulo started receiving a major influx of immigrants, largely from Italy and Portugal. New industries grew up in the city and the population continued to grow rapidly. Today Sao Paulo has one of the largest economies in South America and is one of the most famous cities in the world.
Economy
Sao Paulo is a regional economic hub. In effect, it is the financial capital of Brazil and most of the country’s largest corporations have their headquarters in the city. Sao Paulo has the highest GDP in Brazil and makes up approximately 12 percent of the national economy. The Sao Paulo Stock Exchange is the largest stock exchange in South America with about USD 3.5 billion dollars a day traded. In the past Sao Paulo has had an economy primarily based on industry, however, in the last few decades, this has made a shift towards the services sector. Financial services is a large part of the economy and many foreign corporations also have their Brazilian operations based in Sao Paulo. However, Sao Paulo has also been recently rated as one of the most expensive cities in the world for foreigners to live and work. Mercer ranked the city tenth in this category after other metropolises like London, Paris and New York. Several problems have stopped Sao Paulo from being rated as a world city, primary among these is the social exclusion that is present.
Culture and Tourism
Sao Paulo has a thriving tourism industry and is one of the most visited cities in South America. The city has a range of concert halls, event centres, architectural landmarks and museums. Perhaps the most popular museum is the Ipiranga Museum, built to celebrate the independence of Brazil. The museum is set amongst lush gardens and features over 100,000 pieces celebrating Brazil and its storied history. The Memorial da America Latina is another popular museum and was designed as a museum to celebrate the intersecting cultures of Latin America. Art lovers generally visit the Sao Paulo Museum of Art, which features a host of ever-changing displays of modern art. Among the most recognizable landmarks in the city are the Liberdade, the Asian district of Sao Paulo, Brooklin, the city’s financial district, and Mooca, which is the Italian district of the city. Many visitors to Sao Paulo ascend the Edificio Italia building, from which one has a panoramic view of the entire city. Sao Paulo is also known for its vibrant nightlife and has more than 12,000 restaurants as well as pubs, bars and clubs. Sao Paulo also has a large aquarium, the Aquario de Sao Paulo, as well as a zoo with over 3,000 animals.
Transportation
Sao Paulo is served by two airports, the Sao Paulo-Guarulhos International Airport, which provides mainly international flights, and the smaller Congonhas-Sao Paulo Airport which provides domestic flights around the country. The city also has two main railway stations, Luz and Julio Prestes. Julio Prestes provides only limited suburban travel whereas Luz has lines which serve the entire country, as well as an underground station. Most residents of Sao Paulo travel by car or bus. The city is notorious for its gridlock, however, it does have an extensive and inexpensive bus system. Due to the gridlock on the roads, Sao Paulo has also become famous as the city with the highest number of helicopters in the world with around 70,000 flights per year within central Sao Paulo.
Office space for rent in Sao Paulo
Sao Paulo has a healthy economy and a thriving office market with high levels of absorption. Currently, the city has a vacancy rate of 4.72 percent. This rate has increased over the last few quarters, due mainly to the delivery of new stock recently. However, the recent rise in vacancy rates has not put too much downward pressure on rental prices. Currently, the average rental price for Grade A property in Sao Paulo is BRL 125 per square metre. There are still a large number of projects in the pipeline which will be delivered in the coming few years, though the effect this will have on vacancy and rental rates is unclear.
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