By Anna Fitzpatrick, Contributing Reporter
SÃO PAULO, BRAZIL – In Brazil’s largest and wealthiest city business is booming. Many of the world’s most well-known companies have headquarters located along the city’s main street Avenida Paulista, where real estate prices are amongst the highest on the continent. A report by Price Waterhouse Cooper predicts that São Paulo will be ranked as the 5th richest city in the world by 2025.
Paulistanos work hard and play hard but in the South American city that never sleeps people pay to play, especially in Real Estate. Generally property prices here are lower than in Rio though, largely due to the sheer number of properties on the market.
In more affluent and popular areas though, space is limited and prices are high and rising. As a city of skyscrapers and apartment blocks, the focus here is on apartments rather than houses. Prices do not include condominium fees which average between R$300 – R$500 per month. We take a look at three of the most popular districts.
Pinheiros
One of the most vibrant neighborhoods in the city, prices in Pinheiros are soaring in line with the area’s popularity. Viewed as the new downtown, business is booming and new cafes, shops and bars open weekly. The metro is currently being extended meaning access to Avenida Paulista and other areas of the city will soon be fast and efficient.
Average apartment size: 50m²
Average price per m²: R$5,735
Example:
Despite Real estate prices being way above the city average here, there are still investment opportunities to be found in the area this two bedroom apartment is located on Rua Teodoro Sampaio, one of the area’s busiest streets.
With 70m² of living space, this property is larger than others available in the area. Moments from the supermarket and one block from Villa Madalena, a lively area of bars and restaurants and the new metro station on the next street this apartment comes in just below R$300K at R$276K. See more information about this apartment here.
Higieonópolis
Located within the greater area of Consolação, Higienópolis has historically been a popular, safe, quiet and green neighborhood. Offering very easy access to Avenida Paulista and it is fast becoming popular with the hip cool crowd as the number of bars and restaurants swell. There is a variety of new and older apartment blocks here and local amenities are excellent.
Average apartment size: 50m²
Average price per m²: R$4,926
Example:
Close to the shopping center and the metro this two bedroom apartment has 59m² of living space featuring polished wood floors throughout and built in closets in one room. The condominium charge is R$460, about average for the area. See more information about this listing here.
Moóca
Previously an industrial region of the city and with a name meaning ‘to build houses’ this is an area that cannot be overlooked in property terms in São Paulo. Located close to the Japanese Quarter, Liberdade, this is one of the fastest growing areas in the city.
It’s central location means that green areas are few and far between but investment opportunities are strong here, office blocks have shot up and a sustainable shopping mall Shopping Moóca Plaza is due to open towards the end of 2011. With excellent metro and bus links, Moóca is an area worth considering if space is a priority.
Average apartment size: 70m²
Average price per m²: R$3,598
Example:
Located close to the metro, this three bed roomed apartment comes in just under at R$277K. Slightly under the average apartment size for the area at 66m² it works out at R$4.196/m² with a condo charge of R$340 monthly. View the listing here.