--- title: "Madrid vs São Paulo: Class A office comparison" description: "Side-by-side Class A office comparison for Madrid and São Paulo — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/madrid-vs-sao-paulo pageType: comparison lastUpdated: 2026-04-15T00:00:00.000Z license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)." --- > Madrid ($41/sqft, 8.6% vacancy) and São Paulo ($56/sqft, 19.4% vacancy) compete on different axes: Madrid on rent and tax and São Paulo on talent depth. ## TL;DR - Class A rent: Madrid $41/sqft vs São Paulo $56/sqft. - Vacancy: Madrid 8.6% vs São Paulo 19.4%. - Talent index: Madrid 78 vs São Paulo 80. - Corporate tax: Madrid 25% vs São Paulo 34%. - Premium flex/seat/month: Madrid $780 vs São Paulo $380. # Madrid vs São Paulo: Class A office comparison **Madrid ($41/sqft, 8.6% vacancy) and São Paulo ($56/sqft, 19.4% vacancy) compete on different axes: Madrid on rent and tax and São Paulo on talent depth.** ## TL;DR - [Class A](/glossary/class-a) rent: Madrid $41/sqft vs São Paulo $56/sqft. - Vacancy: Madrid 8.6% vs São Paulo 19.4%. - Talent index: Madrid 78 vs São Paulo 80. - Corporate tax: Madrid 25% vs São Paulo 34%. - [Premium flex](/topics/lease-vs-flex)/seat/month: Madrid $780 vs São Paulo $380. ## Market data side-by-side | Metric | Madrid | São Paulo| | Region | EMEA | Americas| | Country | Spain | Brazil| | Class A rent (USD/sqft/yr) | $41 | $56| | Class A rent (local) | 38 EUR | 250 BRL| | Vacancy | 8.6% | 19.4%| | Trend | rising | rising| | Prime yield | 4.6% | 7.6%| | Premium flex / seat / month (USD) | $780 | $380| | Submarkets covered | 5 | 5| | Corporate tax | 25% | 34%| ## Lease norms | Metric | Madrid | São Paulo| | Typical term | 7 yrs | 5 yrs| | Typical rent-free | 14 mos | 6 mos| | Lease norms | Standard 5-year lease with 5-year extension option (5+5). Rent indexed to CPI annually. Service charges billed separately. Tenant typically pays IBI (real estate tax) and basura (waste tax). Bank guarantee of 3-6 months standard. | Net leases. 5-year terms standard with statutory renewal rights under Brazilian commercial lease law (Lei do Inquilinato). Free rent of 4-9 months and TI of BRL 600-1,200/sqm typical.| | Tax note | Headline corporate tax 25%. Madrid region offers some of Spain's most competitive personal income tax rates. | 15% federal IRPJ corporate tax plus 9% CSLL plus 10% surcharge on profits above BRL 240k = effective 34%. Plus PIS/COFINS, ISS (municipal), and ICMS (state) for various activities.| ## Talent | Metric | Madrid | São Paulo| | Talent index (0–100) | 78 | 80| | Talent note | Iberian peninsula's deepest financial-services and tech talent pool. Average all-in compensation indexes 78. | Deep banking, professional services, and tech talent. Strong feed from USP, FGV, Insper, and ITA. Portuguese-English bilingual professional base in international corporate.| ## Transit & commute **Madrid:** Madrid Metro covers all Class A clusters. AVE high-speed rail to Barcelona, Valencia, Seville, and Lisbon. Madrid-Barajas Airport is 12-25 minutes from CBD by Metro. **São Paulo:** São Paulo Metro (6 lines), CPTM commuter rail, monorail. Guarulhos International Airport (GRU) connected via CPTM Line 13. Congonhas Airport (CGH) closer to the city. ## Top submarkets — Madrid - [**Cuatro Torres**](/cities/madrid/cuatro-torres) — [trophy tier](/topics/trophy-asset-selection) · €50/sqft/yr · ≈ $54 PSF/yr USD - [**Castellana & AZCA**](/cities/madrid/castellana-azca) — trophy tier · €45/sqft/yr · ≈ $48.6 PSF/yr USD - [**Méndez Álvaro / Atocha**](/cities/madrid/mendez-alvaro) — prime tier · €32/sqft/yr · ≈ $34.6 PSF/yr USD ## Top submarkets — São Paulo - [**Faria Lima**](/cities/sao-paulo/faria-lima) — trophy tier · R$260/sqm/mo · ≈ $58 PSF/yr USD - [**Itaim Bibi**](/cities/sao-paulo/itaim-bibi) — trophy tier · R$240/sqm/mo · ≈ $53.5 PSF/yr USD - [**Vila Olímpia & Berrini**](/cities/sao-paulo/vila-olimpia-berrini) — prime tier · R$200/sqm/mo · ≈ $44.6 PSF/yr USD ## Decision criteria ### Pick by cost Madrid is the cheaper Class A market on a USD basis. ### Pick by talent depth São Paulo has the deeper talent index (80/100 vs 78/100). ### Pick by tax Madrid has the lower headline corporate tax (25% vs 34%). Local incentives can change the effective rate materially. ### Pick by lease optionality Madrid typical term is 7 years with 14 months free; São Paulo runs 5 years with 6 months free. ### Pick by transit Madrid: Madrid Metro covers all Class A clusters. AVE high-speed rail to Barcelona, Valencia, Seville, and Lisbon. Madrid-Barajas Airport is 12-25 minutes from CBD by Metro. São Paulo: São Paulo Metro (6 lines), CPTM commuter rail, monorail. Guarulhos International Airport (GRU) connected via CPTM Line 13. Congonhas Airport (CGH) closer to the city. ## Run a 4-city comparison Score Madrid, São Paulo and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD. [**Run a 4-city comparison →**](/tools/city-comparator) ## Frequently asked questions ****Is Class A office cheaper in Madrid or São Paulo?**** : Madrid is cheaper on a USD basis: $41/sqft vs $56/sqft. ****Which has better talent depth, Madrid or São Paulo?**** : São Paulo indexes higher on talent depth (80 vs 78). ****Which has more sublease availability, Madrid or São Paulo?**** : São Paulo carries higher vacancy (19.4% vs 8.6%) and therefore typically more [sublease](/topics/sublease-strategy)">sublease overhang. ****What lease term should I expect in Madrid vs São Paulo?**** : Madrid typical term is 7 years with 14 months rent-free; São Paulo typical term is 5 years with 6 months rent-free. ****How does transit and commuter access compare?**** : Madrid: Madrid Metro covers all Class A clusters. AVE high-speed rail to Barcelona, Valencia, Seville, and Lisbon. Madrid-Barajas Airport is 12-25 minutes from CBD by Metro. São Paulo: São Paulo Metro (6 lines), CPTM commuter rail, monorail. Guarulhos International Airport (GRU) connected via CPTM Line 13. Congonhas Airport (CGH) closer to the city. ## Editorial provenance Reviewed by [**Samuel Okafor**](/about/authors/samuel-okafor) — EMEA contributing editor. Last updated 2026-04-15. See our [methodology](/about/methodology) and [editorial standards](/about/editorial-standards). ### Primary sources for this page - [CBRE Marketview reports](https://www.cbre.com/insights) — CBRE - [JLL Office Insight](https://www.jll.com/en/trends-and-insights) — JLL - [Cushman & Wakefield Marketbeat](https://www.cushmanwakefield.com/en/insights) — Cushman & Wakefield - [Savills World Research](https://www.savills.com/research_articles/) — Savills - [Colliers Global Office Outlook](https://www.colliers.com/en/research) — Colliers [Full sources index](/about/sources) · [Submit a correction](/about/corrections) --- Citation: Source: Class A Atlas (https://classa.info/compare/madrid-vs-sao-paulo), updated 2026-04-15T00:00:00.000Z.