The cities of Rio de Janeiro and São Paulo concentrate the ten most expensive neighborhoods to buy a property in the country. Each of the cities has five of the locations with the most expensive square meter, according to a survey by DataZAP+, a real estate intelligence company belonging to the Zap group, with data from October 2021.
The neighborhood with the most expensive square meter in Brazil is Leblon: R$ 21,612.19, followed by Vila Nova Conceição, in São Paulo, with R$ 20,569.77.
According to economist Pedro Tenório, from DataZAP+, the real estate market peaked in June this year, when the level of residential credit granted to individuals reached a peak.
Since then, there has been a deceleration in the price due to the deterioration of the macroeconomic scenario, “mainly due to the increase in the Selic and the expectation of additional increases in interest rates on real estate financing”, he explained.
In the ranking of the most expensive neighborhoods, in the case of Rio de Janeiro, there are also the neighborhoods of Ipanema, Vidigal, Lagoa and Jardim Botânico. In São Paulo, there are also Jardim Paulistano, Cidade Jardim, Vila Olímpia and Ibirapuera.
Outside the Rio-São Paulo axis
The neighborhood of Campeche, in the south of the island of Florianópolis, in Santa Catarina, gains prominence and real estate valuation outside the Rio-São Paulo axis. Currently, the beach neighborhood has a square meter of R$13,083.35 for sale.
“With the pandemic, less dense localities, with a nature close to urban infrastructure, have increased in value. The phenomenon is common in upscale neighborhoods in coastal capitals and fits in the case of Campeche, despite the rustic charm of the neighborhood”, highlighted Tenório.
Some neighborhoods had a sharp appreciation from January this year to October. Vila Olímpia, in the south of São Paulo, which today occupies the seventh position, was previously in 12th. The Jardim Botânico neighborhood, on the south side of Rio, was ranked 13th and is now ranked 10th.
The neighborhood of Cidade Jardim, in the south of the capital of São Paulo, left the position of the most expensive square meter in the country, in January, to occupy fifth place in the last survey, having dropped 25.5% in the price of the property. It was the most negative variation on the list. It went from BRL 22,773.45 to BRL 16,955.21 per square meter.
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“Rio de Janeiro and São Paulo are the cities that generate the most mass of income and opportunities, in addition to concentrating a complex structure of commerce and services. The pandemic, however, seems to have shaken the usual ranking of neighborhoods in São Paulo”, assesses the DataZAP+ economist.
Tenório also highlights that a portion of neighborhoods with more expensive square meters was directly associated with proximity to high-income shopping centers in the city. “The home office, together with greater importance given to contact with nature, made room for these movements”, he said.
Reference: CNN Brasil
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