A survey by QuintoAndar, the largest housing platform in Latin America, reveals that air conditioning became the most used filter by those searching for a property to buy in São Paulo in 2024. The demand for this feature increased compared to 2023, when it was only the seventh most sought-after item.
One hypothesis for air conditioning gaining such relevance is the fact that 2024 was marked by several heatwaves, amid the hottest year since 1961, according to the National Institute of Meteorology (INMET). Record-high temperatures were registered in the São Paulo capital for consecutive days.
“Even for properties for sale, where one can invest and even renovate for installation, many condominiums in São Paulo do not allow the installation of the equipment, either for aesthetic or structural reasons. Using the filter makes it easier to find places that already have this authorization,” highlights Thiago Reis, Data Manager at Grupo QuintoAndar.
In second and third place are ‘penthouses’ and ‘new or renovated units,’ filters that facilitate the search for newer or already revitalized apartments.
“A property of this type is always attractive, as it brings together characteristics highly valued by those looking for an apartment, such as privacy, tranquility, an unobstructed view, and steady appreciation,” states Reis. “Furthermore, people use this filter because, often, these features are not easily identifiable from the photos alone.”
Check the list of the most in-demand features in São Paulo:
- Air conditioning
- Penthouse apartment
- New or renovated
- Unobstructed view
- Kitchen cabinets
- Barbecue area
- Gas-powered shower
- Morning sun
- Natural light
- Built-in bedroom closets
Price Grows Below Inflation
In São Paulo, the price per square meter in finalized contracts rose 4.28% during the year. The average price reached R$7,315/m². Compared to the third quarter, the increase was 1.36%. Meanwhile, inflation, according to the IPCA (Brazil’s Broad National Consumer Price Index) from IBGE, was 4.83% in 2024. This means there was a real-terms devaluation in São Paulo (around 0.55%).
“The sales market has been suffering from the gradual rise of the Selic rate, which has caused demand to fall and prices to stabilize. The difficulty in obtaining credit, with banks increasing financing rates, has forced many to postpone, at least temporarily, the dream of homeownership,” states the Data Manager at Grupo QuintoAndar.