São Paulo neighborhoods where properties are most rapidly rented

RIO DE JANEIRO, BRAZIL – In the past six months the most popular properties for São Paulo residents have at least two bedrooms. Vila Andrade, Tatuapé, Saúde, Panamby and Mooca are liquidity champions, according to Quinto Andar platform data.

In Vila Andrade, for one, 52.6% of properties are rented within two weeks of being vacated. Rates in the other mentioned neighborhoods are as follows:

Tatuapé – 45.4%
Saúde – 41.5%
Panamby – 41.2%
Mooca – 40.7%

Why?

“It is related to the type of property available in these regions,” explains Quinto Andar’s head of communication José Osse. “The liquidity of 1-bedroom apartments, studios, bedsitters, is lower than it was before the pandemic. On the other hand, demand for larger 2-bedroom apartments has increased. Our assumption is that these neighborhoods, because they have a slightly larger concentration of properties, are more liquid,” he explains.

Average rent in these neighborhoods varies between R$1,907 (US$366) in Mooca and R$2,100 in Vila Andrade. Quinto Andar also reports that negotiations between tenants and landlords are 10% faster in the first half of 2021 compared to the first half of 2020, at the start of the Covid-19 pandemic.

The rate has not yet returned to that of 2019, before the pandemic, when negotiations were 18% faster than this year.

The rise in the search for 2-bedroom apartments is not exclusive to São Paulo. “This scenario is also true for Rio de Janeiro, Porto Alegre and Belo Horizonte,” José Osse says.

Source: VejaSP