Rio’s and São Paulo’s Most Expensive Neighborhoods to Purchase Property

RIO DE JANEIRO, BRAZIL – The FipeZap Index, which monitors the average sales price of finished apartments in 50 Brazilian cities based on internet ads, shows that the sale value of residential properties maintained its upward trend and increased by 0.43 percent in October.

In the year-to-date, the nominal high was of 2.75. Considering the expected inflation, this means that the average price should close the period with a real increase of 0.59 percent.

Among the capitals monitored, Rio de Janeiro recorded the highest sales price (R$9,383/m²), followed by São Paulo (R$9,265/m²) and Brasília (R$7,927/m²). Campo Grande (R$4,342/m²), Goiânia (R$4,403/m²), and João Pessoa (R$4,431/m²) registered the lowest average prices.

Behavior in 2020

With the exception of Recife, where the average residential sales price dropped by 2.15 percent in the year, the remaining Brazilian capitals reported an increase in the period, such as Brasília (+8.33 percent), Curitiba (+6.35 percent), Florianópolis (+5.27 percent), Campo Grande (+5.07 percent), Maceió (+4.85 percent), and Manaus (+4.67 percent).

In São Paulo and Rio de Janeiro, the average residential sales prices closed the period with cumulative highs of 3.07 and 1.02 percent, respectively.

Below is a comparison of prices in São Paulo neighborhoods to purchase real estate:

Below is a comparison of prices in Rio de Janeiro neighborhoods to purchase real estate:

The drop in the federal treasury’s basic lending rate (SELIC) and the ease of financing led the sale of residential properties in São Paulo to outperform last year’s results. According to a survey conducted by the Department of Economics and Statistics of SECOVI-SP (Housing Union), in September this year 5,147 new residential units were sold in the city – a record for the month and a growth of 19.2 percent compared to September last year.

Source: Exame