The price per square meter for one-bedroom apartments has surpassed R$ 85 for the first time in São Paulo. The data is from the QuintoAndar Imovelweb Rental Index.

The data also shows that this value is 40% higher than the square meter price for two and three-bedroom properties (around R$ 60).

“This is a clear sign of the transformation of the housing concept in the São Paulo capital. For many, a smaller but well-located space is worth much more than a larger, more distant apartment. The demand from São Paulo residents for compact and functional properties has consistently driven up prices, especially in regions close to job hubs and with easy access to transportation,” says Thiago Reis, Communications and Data Manager at QuintoAndar.

The appreciation of this type of unit (which includes micro-apartments) has been close to the city’s average (just over 7% in the last 12 months). The average price per square meter for rentals in São Paulo as a whole reached R$ 69.5 in September — 0.5% above the previous month.

Jardim América on the rise

The highlight of the index was once again Jardim América. The neighborhood, which in August surpassed Leblon as the most expensive in the country, has seen an impressive appreciation of 54.5% in the last three months alone.

The square meter price in the region reached R$ 143.5 last month, the highest value in the entire historical series of the index, considering all neighborhoods in the six cities analyzed (SP, Rio, BH, Brasília, Curitiba, and Porto Alegre).

The West Zone neighborhood is followed by Vila Olímpia (R$ 109.3) and Brooklin (R$ 101.5), both in the South Zone. Completing the top five are Vila Nova Conceição (R$ 97.9) and Pinheiros (R$ 95.3).

The significant appreciation of Jardim América is due to a stock of large, luxury properties being made available on the real estate market, pushing the region’s average price up. Furthermore, its prime location, close to the Paulista, Rebouças, and Brasil avenues, reinforces the neighborhood’s attractiveness.