São Paulo

While the neck-and-neck polls for Brazil’s 2026 presidential election are creating some uncertainty in the business community, the fit-out market in São Paulo is still seeing high demand. New stock is coming onstream and, together mixed with changing workplace trends, is triggering a number of occupiers to move to new, bespoke space. The average mid-specification fit out is now estimated to cost R$11,216 per m2.

One factor behind the desire for relocations is occupiers looking to attract employees in an increasingly competitive labour market. The workforce values good transport links and surrounding amenities like bars and restaurants, and offering these is fundamentally unachievable with a retrofit if the building is in the wrong location.

São Paulo is one of the driving forces behind Brazil’s rebounding fit-out market, as a city where there has been a recent pronounced move to return to the office. Employers in the financial services and tech sectors are increasingly mandating in-person attendance. This has pushed clients to opt for higher-specification fit outs in the battle for talent – with attractive break-out areas and places to grab coffee or prepare food from home adding to costs. Premium fit outs now average at R$17,352 per m2.

One other sector seeing high numbers of fit outs is the legal profession. However, for law firms, the needs differ, as most continue to be more flexible with hybrid working, meaning less need to increase seat count and more focus on quality space for collaboration.