São Paulo is one of the most expensive cities to live in Brazil and one of the greater examples of the devastating social inequality in the country. Learn in this article what are its most expensive and prestigious neighborhoods and why.
The wealthy side
The main Brazilian city in terms of economy, São Paulo has got more than 11 million people. Just to give an idea, this is more than the whole population of countries like Belgium and Denmark, for example.
With so many people, social inequality is almost an inevitable consequence and just like in many big cities of developing countries, there are areas of extreme wealth and areas of extreme poverty.
A recent study by Fipe (Fundação Instituto de Pesquisas Econômicas) in a partnership with ZAP Imóveis has ranked the wealthiest and the poorest neighborhoods in São Paulo and Rio de Janeiro cities.
In São Paulo, we can see that the main determiner for prices is the amount of green areas: the closer a property is to parks, the more expensive it will be. Here are the most expensive neighborhoods in São Paulo city and why they are so expensive.
Brooklin and Vila Olímpia
Located in the Southern area of São Paulo city, Brooklin is currently divided in two major areas: Brooklin Velho (Old Brooklin) and Brooklin Novo (New Brooklin). The first one is more residential while the second one is where major multinational companies are located.
Vila Olímpia houses several offices for multinational companies such as Unilever, Santander Group, Gol, Motorola and Facebook’s first Latin American office. The neighborhood is also famous for its bars and nightclubs. The average price for the sqm in these neighborhoods are of BRL 8.242,00 in Brooklin and of BRL 8.623,00 in Vila Olímpia.
- Why is it so expensive? – Brooklin Novo is where the headquarters for companies like Nestlé, Nokia, Terra Networks, HBO Brasil and the financial center of Av. Engenheiro Luís Carlos Berrini are located. It is also close to major roads, to the train station and to the Hilton Hotel.
Alto de Pinheiros
Located in the Western area of São Paulo city, Alto de Pinheiros is an upscale neighborhood. Mostly a residential area, it has a strong presence of Americans and Europeans, specially German, Austrians and Swiss. The average price for the sqm in this neighborhood is of BRL 8.278,00.
- Why is it so expensive? – The area is located near to major roads, to Villa Lobos park and to Universidade de São Paulo.
Jardins is an area composed by the neighborhoods of Jardim Paulistano, Jardim Europa, Jardim Paulista and Cerqueira César. All these upscale neighborhoods are located southern to Avenida Paulista, towards the Pinheiros river. It is one of the most prestigious areas in São Paulo city and the price per sqm goes from BRL 8.365,00 to BRL 9.575,00.
- Why is it so expensive? – the area gives easy access to major financial centers in São Paulo such as Avenida Paulista and Avenida Brigadeiro Faria Lima. It is also famous for its leisure options and its upscale stores such as the ones located at Oscar Freire street.
An upscale neighborhood located in the Central/South area of São Paulo city, Moema has a significant presence of American expats. It has one of the highest level of quality of life in São Paulo. The average price for the sqm in this neighborhood is of BRL 8.427,00.
- Why is it so expensive? – besides offering a very high level of life quality, Moema is also very close to Congonhas airport.
Located in the western area of São Paulo city, Jardim Europa is an upscale neighborhood where several cultural institutions are located. With a majority of upscale houses, the neighborhood is the home for several important Brazilian personalities such as Marta Suplicy (former mayor) and Kaká, soccer player for the Brazilian soccer team. The average price for the sqm in this neighborhood is of BRL 8.480,00.
- Why is it so expensive? – the neighborhood is very close to important museums and to Parque do Povo, an important green area in the city.
Morumbi and Jóquei Clube
Located in the western area of the city, Morumbi is a district famous for its upscale neighborhoods. It is often presented as the classic example of the city inequality as it is surrounded by slums. The average price for the sqm in this neighborhood is of BRL 8.885,00.
- Why is it so expensive? -The area houses the State Government Headquarter (which is the residence of the State governor), important hospitals, the luxurious Cidade Jardim Mall and the city Jockey Club, apart from being close to University of São Paulo, where there is a major green area.
Located in the western area of the city, Itaim Bibi is an upscale neighborhood in São Paulo city. Its surroundings houses important architectonic milestones such as Octávio Farias de Oliveira Bridge, Hyatt Hotel and Globo TV network to name a few. The average price for the sqm in this neighborhood is of BRL 8.899,00.
Why is it so expensive? - Just like Brooklin and Vila Olímpia, several financial centers are located at Itaim Bibi and it is close to Parque do Povo, an important green area in São Paulo.
Ibirapuera / Vila Nova Conceição
The most expensive neighborhood in São Paulo city, Ibirapuera / Vila Nova Conceição houses important public buildings. Differently from Jardim Europa, that has a majority of houses, Ibirapuera has its residential area mostly restricted do buildings. The average price for the sqm in this neighborhood is of BRL 11.086,00.
Why is it so expensive? – As previously mentioned, the proximity to green areas is one of the main responsible for increasing the price of a property, so the proximity to Parque Ibirapuera, the most important park in São Paulo city, hosting several important cultural events every year, is the direct responsible for making Ibirapuera neighborhood the most expensive in São Paulo.
The other side
The same study has elected the less expensive areas to live in São Paulo. They are:
- Cidade A.E Carvalho – BRL 2.670,00 per sqm;
- São Miguel Paulista – BRL 3.061,00 per sqm;
- Artur Alvim – BRL 3.065,00 per sqm;
- Cangaíba / Engenheiro Goulart - per sqm;
- Itaquera – BRL 3.349,00 per sqm;
- Ermelino Matarazzo – BRL 3.363,00 per sqm;
- Pedreira - BRL 3.409,00 per sqm;
- Jardim Umarizal - BRL 3.481,00 per sqm;
- Vila Carmosina – BRL 3.514,00 per sqm;
- São Mateus – BRL 3.523,00 per sqm;
Out of these 10 neighborhoods, six are located in border areas and eight of them are in the Eastern area of São Paulo city.