Apartment sales grow outside downtown São Paulo – 06/02/2023 – Market

Neighborhoods located outside the central area of ​​São Paulo, such as Tatuapé and Mooca (east zone), Sacomã and Jabaquara (south zone), Santana, Tucuruvi and Pirituba (north zone), are among those that recorded the most apartment sales this year in the capital paulista.

More than that, these are also some of the regions with the highest increases in the volume of units traded in relation to the same period (January to April) of 2019, the first year with data from the city hall available. The range allows comparison with the pre-pandemic period.

The greater supply of land in these areas, the high prices in the expanded center and the effects of the 2014 Master Plan are some explanations by specialists for this movement.

The survey is based on the Real Estate Demand Ranking, launched by the startup Loft and anticipated to Sheet, which shows the volume of transactions carried out in 118 neighborhoods in the city of São Paulo. The data are tabulated from the ITBI (Tax on Transfer of Real Estate) records released by the City Hall.

Vila Andrade, in the south zone, leads apartment sales, with 547 units this year – the neighborhood already appeared at the top of the list four years ago, after a real estate boom caused by the extension of Line 5-Lilac of the subway, completed in 2019 .

Following, appear Tatuapé (478 units), Bela Vista (467), Sacomã (338), Perdizes (333) and Mooca (330).

Among the sales champions, Tatuapé and Mooca also draw attention to their growth compared to the pre-pandemic period. Tatuapé rose from 4th to 2nd place in the ranking, with a 29.2% increase in transactions. Mooca, on the other hand, had a jump of 46.7% and went from 14th to 6th position.

Another highlight is Jabaquara, with 315 apartments sold this year and an increase of 47.2% compared to 2019. The neighborhood rose from 15th to 8th place in the ranking.

Encouraging housing closer to urban mobility axes –bus lanes and subway and train stations– was one of the hallmarks of the 2014 São Paulo Strategic Master Plan. The new revision was approved in the first round this Wednesday (31 ) at City Hall.

The objective of the plan was to densify these axes, concentrating a larger portion of the population in areas with better access, with the aim of reducing traffic and reducing the sprawl of the metropolis.

“This increase is directly related to the direction given by the Master Plan, in addition to the offer of land at lower prices in certain regions”, evaluates urban planner Viviane Rubio, a professor at Mackenzie University.

“The objective was to promote the balance of occupation in the city and, thus, offer housing in areas served by public transport for the lower-income population, but this did not succeed”, he adds.

“These are attractive areas, close to central regions, which offer easy access to transport routes and public transport, as well as proximity to employment centers, such as the old center or the Avenida Paulista region, and services”, says Rodger Campos, manager of Loft’s data.

One of the regions with the most significant increase was Pirituba, which jumped enough to be among the 20 neighborhoods with the most apartments sold. The growth was 89.7%.

The case of Pirituba also draws attention because the neighborhood appears only in 65th place when it comes to the average price per square meter (R$ 6,387). Jabaquara (R$ 6,640), Sacomã (R$ 6,471) and Campo Limpo (R$ 6,092) are other examples of areas that are well positioned in sales and that appear lower in terms of cost.

In addition to Pirituba, another novelty among the neighborhoods with the most sales is Tucuruvi, also in the North Zone. The region recorded 43.6% more transactions this year, jumping from 24th to 14th place in the demand ranking.

On the other hand, the neighborhoods that started to sell less were Aclimação and Vila Olímpia. The first dropped from 18th to 21st in the ranking, and the second dropped from 19th to 30th.

“In general, it is a phenomenon closely linked to the increase in property prices. Land, construction material, labor, all of this went up, accumulating, and the cost of the square meter was high”, says Gustavo Favaron, president of the GRI Club, a relationship platform for the real estate market. According to him, the increase in the interest rate on real estate financing also weighed on the consumer.

According to the ranking, the most expensive prices per square meter in the capital are in Jardim América, R$ 23,611, and in Jardim Europa, R$ 20,667.

Favaron also mentions the decrease in the size of apartments, especially in the South Zone, which explains part of the increase in sales in some neighborhoods in the region. “It was sold a lot because the price in general went up and people started buying smaller and smaller units.”