Brazil: Loft indicates reduction of real estate prices in São Paulo
RIO DE JANEIRO, BRAZIL – Those planning to buy a property in São Paulo City will find good opportunities because the square meter price has fallen in some neighborhoods in the capital. That is what the new edition of the EXAME-Loft Speculometer Index points out, which includes 23 neighborhoods.
Four neighborhoods had a reduction in the square meter price: Acclimação, Alto da Lapa, Chácara Klabin, and Jardim Paulistano. In the first case, the reduction was from R$9,506 (US$1,923) per square meter to R$9,380. In the second, from R$9,195 to R$8,508. In Chácara Klabin, the value of the square meter went from R$9,197.32 to R$8,943.37, while in Jardim Paulistano it went from R$11,490 to R$9,987.
“It is noteworthy that the number of neighborhoods with a significant reduction in the value of the square meter has increased this month, consolidating the favorable scenario for those who want and can buy,” said Fabio Takahashi, data and content manager at Loft.
The indicator considers 23 neighborhoods in São Paulo, 17 of which showed price stability, and only two registered an increase, Bela Vista and Itaim Bibi.
ANNOUNCED VALUE X TRANSACTED VALUE
Besides the square meter price, the EXAME-Loft Speculometer Index analyzes the difference in value between the advertised and the notarized contract value. This data is fundamental for those who want to buy a property because it signals how long an eventual price negotiation between seller and buyer can drag on. In theory, the bigger the difference, the longer the negotiation will take.
When analyzing the neighborhoods, the data indicate that the speculation, i.e., the price difference between the value announced on the market and the one transacted at the registry office, the highest was registered in Moema Indios, followed by Jardim Paulistano, Vila Madalena, and Jardim Paulista.
Fábio Takahashi explains that even in neighborhoods with an increase in the transacted value, it is something circumstantial. “Since February, we haven’t had a neighborhood with expressive growth. We will monitor how these areas behave in the next surveys.”
When analyzing the speculation in the 23 neighborhoods, the data show that in 8 neighborhoods, there was a reduction in the difference, and 7 showed an increase in this new edition. According to Takahashi, this may indicate that the market seems to be seeking a new balance, considering the economic scenario.
With information from Exame
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