Condominium prices in São Paulo experience up to 16% growth in one year

A recent survey conducted by Data Lello indicates a significant increase in condominium prices in the city of São Paulo.

The study found that condominiums with over 300 units saw the highest price surge, averaging a 16% increase over one year.

These figures pertain to the first four months of this year compared to the same period in 2022.

Following closely behind were buildings with 150 to 300 units, which experienced a 15% rise in condominium values.

Condominiums with 81 to 150 units saw a 14% increase, while those with 31 to 80 units and fewer than 30 units observed a 12% and 11% growth, respectively.

Angelica Arbex, Marketing Director of Lello Condomínios, attributed the price escalation, surpassing the main inflation indexes of the market, to the increased prices of condominiums with more expensive units.

Regarding the neighborhoods with the highest-priced condominiums in São Paulo, Higienópolis claimed the top spot with an average monthly price of R$2,216 (US$452).

Vila Nova Conceição and Itaim Bibi followed closely behind with average prices of R$1,813 and R$1,714, respectively.

Despite the upward trend in condominium prices, the delinquency rate for payments overdue by 60 days or more only rose by 0.4 percentage points, reaching 2.76%, as reported by Data Lello.

Arbex expressed positive sentiments: “The good news is that the average delinquency rate remains at low and controlled levels, which is crucial for maintaining the financial stability of condominiums.”