Brazilian companies ready to move away from remote work
The landscape of remote work in Brazil is undergoing a significant transformation that indicates a shift away from the pandemic-era work-from-home setup. Brazilian businesses, particularly in the tech sector, are increasingly returning to in-person work, leading to a boost in demand for office spaces.
State of play. According to Yara Matsuyama, director of Leasing at JLL, the upward trend in rent prices indicates a growing interest in brick-and-mortar offices. As of June 2023, the FipeZap index, which measures real estate prices, reveals a notable 5.18 percent increase in office rental prices over the past year — above the official 12-month inflation for the period, which stood at 3.16 percent.
- Notably, this surge in demand for office spaces has had an effect on vacancy rates. In Q1 2020, vacancy rates for commercial properties reached a record low of 13.6 percent. But as the pandemic forced the world to work remotely, that rate spiked to...
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