What R$1 Million Buys in São Paulo

By Anna Fitzpatrick, Contributing Reporter

SÃO PAULO, BRAZIL – We reviewed what the housing market offered with a R$700K budget in Rio de Janeiro, and now we ‘re upping the stakes to see what R$1 million will afford in São Paulo. Following last week’s review of what R$300K can buy in Brazil’s largest city; we take a look what SP has to offer, apartment wise, further up the price scale. Please keep in mind this information does not include the monthly condo fee (“condomínio”) and property tax (“IPTU”).

Pinheiros
As we wrote last week, Pinheiros is the new place to be, so it is worth looking at what else you can get in the area with a several hundred thousand more reals. As a quickly developing area there is something for a variety of budgets. At the higher end spacious, loft style apartments are generally smaller than elsewhere but fashionable with high end finishes.

Average Price per m²:  R$5,748
Average Listing Price:  R$1,133,276

Example: This loft apartment on Rua Mateus Grou has 135m² floor area and was built in 1995. A typical loft style apartment with large windows, wooden floors and high quality finishes it costs just under a million at R$890,000. For more details see the listing here.

The Jardins
The neighborhoods of Jardim Europa, Jardim Paulista and Jardim America are known collectively as “The Jardins” and is a safe and sophisticated area home to São Paulo’s answer to Rodeo Drive, Rua Oscar Freire.  As a key location in the city, international luxury brands are flocking to the area to set up shop. With some of the first-rate schools, excellent local amenities, and a central location, property prices in these neighborhoods collectively average just under R$4 million.

Average Price per m²:  R$7,974
Average Listing Price:  R$3,756,473

Example: This apartment on Rua Peixoto Gomide is just moments from Avenida Paulista and the bars and restaurants of Oscar Friere. With four bedrooms in only 140m² of floor space, it is location, not living space that you get for your money.  More details on the listing can be seen here.

Moema
Home to the biggest and most popular park in the city, Parque Ibirapueira, Moema is well served with amenities and has green spaces aplenty. Located in the Southern Central zone of the city it offers good access to the Jardins and Pinheiros as well as the city center and down town. The area is also home to the most expensive neighborhood in the city Vila Nova Conceição .

Average Price per m²:  R$5,738
Average Listing Price:  R$1,156,094

Example: For just under R$1 million, this four bedroom apartment has a balcony and polished wooden floors throughout. Two of the rooms are en-suite, the flat has a large living area with a fireplace and three car parking spaces. The condominium facilities are excellent but for these you have to pay R$2,000 monthly. View this property listing here.

Morumbi
With a name meaning ‘green hill’ it comes as no surprise that Morumbi is one of the greenest neighborhoods in the city.  Traditionally a wealthy area, the winding streets boast a variety of architectural styles and the prosperity of residents can be seen in the quality of amenities, restaurants and bars in the area.

Average Price per m²:  R$3,327
Average Listing Price:  R$1,128,368

Example: This spacious four bedroom apartment has a total area of 510m² and comes in at exactly R$1 million.  The apartment comes with fitted wardrobe space and 4 parking spaces, balcony area and terrace.  For more details see the complete lising here.

Itaim Bibi
Another area in the cluster of wealthy neighborhoods in the West of the city is Itaim Bibi.  Previously a more modest residential area for those working in more affluent bairros, it is now host to some of the best bars and restaurants in the city. With good access to other parts of the city and the center, prices reflect this.

Average Price per m²:  R$6,863
Average Listing Price:  R$1,476,460

Example: With excellent access to two of the most important financial centers of the city, Avenida Paulista and Faira Lima, this four bedroom apartment on Rua Jesuíno Arrudo has the amenities you would expect for the price tag and the 198m² of living space reflects the popularity of the area. More details about this apartment here.