RIO DE JANEIRO, BRAZIL – The average price of a residential square meter in the city of São Paulo was practically stable in August, at R$9,412. According to a survey by Imovelweb, a real estate portal, there was a slight increase of 0.2% in prices compared to July. In 12 months, the price rose 4.4%.
When analyzing the square meter values per region, the data shows that the most expensive place to live is in the West Zone, with a purchase value of R$11,277 per square meter. The cheapest place is in the East Zone, with an average of R$5,137/m².
In relation to neighborhoods, the report shows that the most expensive place to buy a property is Pinheiros, while the cheapest is Cidade Tiradentes.
Analyzing the 12-month period, the neighborhoods where the price of the square meter rose the most in São Paulo were: São Miguel Paulista (R$4,748/m², +12.9%), Jardim Helena (R$4,566/m², +11.9%) and Jaguara (R$5,965/m², +10.9%). On the other hand, the neighborhoods that depreciated the most were Cidade Dutra (R$4,897/m², -6.0%), Pari (R$6,542/m², -9.0%), and Parelheiros (R$6,227/m², -11.6%).
RENT
The report from Imovelweb shows that in 2021 rent almost did not register any changes, there was only a small drop of 0.1%. Thus, the rental price of a standard property (65 square meters, two bedrooms, and a vacancy) in the capital city of São Paulo is on average R$ 3,453 per month, R$ 2 reais below the value at the beginning of the year. In 12 months, there was a 3.1% increase in the price of rent.
The data also show that the west zone is the most expensive to rent a property, while the east zone is the cheapest.
The neighborhood with the lowest rental price is Cidade Tiradentes, while the highest price is in Itaim Bibi.
In 12 months, the places where it became cheaper to rent a property were Sé (R$ 3,091/month, -15.8%), Bom Retiro (R$ 1,865/month, -15.3%) and República (R$ 2,973/month, -11.9%). Rents were more expensive in Itaquera (R$ 1,705/month, +15.6%), Vila Medeiros (R$ 1,589/month, +16.3%) and Belém (R$ 2,058/month, +17.1%).