Nascent recovery in Sao Paulo's real estate market as vacancies drop
Sao Paulo
LOPES Supermercados, a small supermarket chain on the outskirts of Sao Paulo, has started opening stores again after enduring three years of economic malaise. Meanwhile, co-working startup WeWork Co opened its first office in the heart of Brazil's financial capital three weeks ago, with five more planned through January.
Vacancy rates for prime-quality commercial real estate in Sao Paulo started dropping in September for the first time in five years, a decline that has continued through May as growing companies gobble up space and long-time Brazil investors indicate it's time to buy. The activity is a welcome sign in a market pining for good news.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2