The 10 most expensive neighborhoods in Brazil are all located in the Rio de Janeiro – São Paulo axis

RIO DE JANEIRO, BRAZIL – The states of São Paulo and Rio de Janeiro concentrate the ranking of the ten most expensive neighborhoods per square meter in the country. Leblon in Rio de Janeiro tops the ranking with R$21,612.19 (US$3,825) per square meter, according to the October survey by DataZAP+, ZAP’s information service, in collaboration with FipeZAP.

In second place among the most expensive neighborhoods in Vila Nova Conceição in São Paulo, with a price per square meter of R$20,569.77 (US$3,640). Rio and São Paulo each have five areas among the most expensive in the country.

Cidade Jardim dropped to fifth place in the rankings in October. It is still in a good position, but in January, it was in the first place, ahead of Leblon.

However, that doesn’t mean it’s cheap to live there. A standard 70-square-meter apartment can cost over R$1 million.

DataZAP+ economist Pedro Tenório told CNN Brasil that the real estate market peaked in June 2021, when the number of housing loans for individuals reached an all-time high.

After that, a slowdown in prices is observed due to the deterioration of the macroeconomic scenario, “mainly due to the increase in the Selic rate and the expectation of further increases in interest rates for real estate financing,” he said.

In the south of the island of Florianópolis in Santa Catarina, the neighborhood of Campeche, leaving the Rio-São Paulo axis, is gaining importance this year. With a price per square meter of R$13,083.35, the neighborhood ranks first among areas outside the Rio-SP axis.

“With the pandemic, less dense locations close to urban infrastructure have gained value. The phenomenon is widespread in the top neighborhoods of coastal cities and applies to Campeche, despite the neighborhood’s rustic charm,” Tenório said.

The most expensive neighborhoods in Brazil, per square meter

Leblon (RJ) – R$21,612.19
Vila Nova Conceição (SP) – R$ 20,569.77
Ipanema (RJ) – R$ 18,910.03
Jardim Paulistano (SP) – R$ 17,290.33
Cidade Jardim (SP) – R$ 16,955.21
Vidigal (RJ) – R$ 16,616.66
Vila Olímpia (SP) – R$ 16,517.19
Lagoa (RJ) – R$ 16,463.65
Ibirapuera (SP) – R$ 16,451.16
Jardim Botânico (RJ) – R$ 15,893.87