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With the expansion of national and multinational companies in Brazil and favorable economic conditions, due to the availability of credit at the time, 2008 was a strong year for the national economy until the end of the 3rd quarter when the global crisis started to affect Brazil. The Gross National Product (GNP) reflects market conditions and the state of the economy. Throughout 2008 GNP increased, compared to 2007, and it wasn´t until the end of the last quarter we saw the forecasts decreasing for the quarterly GNP growth.
For the office market in Sao Paulo, as well as the entire real estate market, it is a time of caution. Construction companies and developers are determining the best time and the best projects to release to the market, and tenants are looking for the best terms and deals.
Contact Mariana Ferreira at +(55-11) 3323-0033 for more information.
  Market Report SP Office 4° Tri. (ING).pdf
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