Panel SA: Upscale neighborhoods of São Paulo recover property valuation this year, says survey

Cidade Jardim and Jardim Europa, upscale neighborhoods in the West Zone of São Paulo, had the highest real estate appreciation in the capital of São Paulo this year. The accumulated variation of the last 12 months reached 44% and 35%, respectively, according to a survey by DataZAP+, the intelligence arm of ZAP+.

The two neighborhoods have regained pre-pandemic prestige, after losing value in the last two years. Now the square meter of Cidade Jardim costs, on average, R$ 26 thousand. In Jardim Europa, the metro costs R$ 22,000.

Next, Jardim Mutinga and Jardim Brasil, both in the North Zone, appreciated by 30% and 27%, respectively, with a square meter worth R$5,649 and R$6,646.

Jardim da Glória (19%), Cidade Ademar (15%), Jardim Miriam (14%) and Grajaú (14%), all in the South Zone, Burgo Paulista (13%) and Vila Campanela (11%), in the East Zone , close the top 10 valuations.

The survey also mapped the main searches by people interested in buying a property on the ZAP Imóveis and Viva Real websites. José Bonifácio (51%), Cidade Tiradentes (45%) and Lajeado (44%), in the East Zone, lead this section.

Jardim Peri (36%), in the North Zone, Banking (30%), in the East Zone, Guarapiranga (29%), in the South Zone, Vila Carmosina (26%), in the East Zone, Campo Limpo (25%), in South Zone, Jardim São Roque, in the West Zone (25%), and São Luís (24%), in the South Zone, round out the ten most popular neighborhoods.

According to the DataZAP+ analysis, even with a high interest rate in the period, the heating up of the labor market compared to last year, and the retreat of inflation may have boosted demand in cheaper neighborhoods.

Joana Cunha with Paulo Ricardo Martins and Diego Felix