But don’t take our word for it. This report comes from the Jornal Florianopolis in the Southern Brazilian state of Santa Catarina. The article written by Beatriz Thielmann of Jornal Floripa was intended to emphasize just how expensive real estate in Brazil is today, especially in Rio and Sao Paulo.
The headline, Real Estate in Sao Paulo and Rio de Janeiro is More Expensive than European Cities, was the launching pad for an average cost comparison of an 860-square foot (80m2), two-bedroom condominium in some of the best neighborhoods of five global megacities: Buenos Aires, New York, Paris, Rio and Sao Paulo.
“Research shows that housing prices in Sao Paulo and Rio de Janeiro are something for the rich,” Thielmann writes adding, “It would be cheaper to have a view of the Eiffel Tower from your window.”
Of the five chosen cities, New York tops the list with a price of US$ 849,762 (R$ 1,572.060) followed closely by the Leblon Beach neighborhood of Rio de Janeiro at US$ 741,881 (R$ 1,372,480). The City of Lights clocks in at number three with an average price of US$ 648,649 (R$ 1,200,000) making it more affordable than Rio de Janeiro but still more expensive than Sao Paulo. The average two-bedroom apartment in the Jardim Paulista barrio of SP costs US$ 414,486 (R$ 766,800) or US$ 481 per square foot (US$ 5,175 per m2).
Buenos Aires real estate is the cheapest of Thielmann’s Fab Five with an average price of US$ 181,504 (R$ 335,782). Compared to Buenos Aires, Sao Paulo properties are 128% more expensive, Paris 257%, Rio 308% and New York 368%. (Full Story in Portuguese)
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