Property sale prices in São Paulo and Belo Horizonte lagged behind inflation in the first half of 2025. This is revealed in the QuintoAndar Sale and Purchase Report.
The data shows a 1.15% increase in the price of closed contracts in São Paulo and a 1.33% growth in values in Belo Horizonte compared to the end of 2024. Inflation, according to the IPCA (Broad National Consumer Price Index), was 2.99% from January to June. Rio de Janeiro bucked the trend of the other two capitals, with a 5.7% increase – above the rate measured by the IBGE.
“The sale and purchase market continues to show great resilience. Even in a high-interest-rate environment (which affects financing), demand shows no clear signs of slowing down. What is noticeable is a more selective buyer and a stabilizing valuation pace (especially in BH and SP), with more room for negotiation,” says Thiago Reis, Data Manager at Grupo QuintoAndar. “This is a market that has been moving at different speeds. While the cost of credit results in more contained appreciation on average, local dynamics and strong demand for specific property profiles create pockets of heating. This indicates that buyers with available capital continue to find opportunities,” he adds.
The average price per square meter in São Paulo was R$ 7,333. In Rio de Janeiro, the average price was R$ 4,900. And in Belo Horizonte, it was R$ 5,097.
Centro: High appreciation and profitability in Rio
In Rio de Janeiro, the central region has become the main area of real estate appreciation in the city. According to the QuintoAndar Sale and Purchase Report, the median property price in the region soared by 30.7% in the last 12 months, ending the first half of 2025 with the square meter quoted at R$ 6,040. This was the highest increase recorded among all zones of the Rio capital. Additionally, the potential rental yield in Centro was 7.9% per year, the highest in the city. The area’s recovery may be a direct reflection of revitalization efforts, such as the “Reviver Centro” program. The initiative has attracted a new wave of residential developments and modernized the local infrastructure, transforming previously degraded areas into points of interest for new residents and investors.
Pinheiros: Topping the rank in SP
In São Paulo, Pinheiros is now the most expensive neighborhood to buy a property. According to the QuintoAndar report, the price per square meter in the region reached R$ 15,353 at the end of the first half of 2025, placing the West Zone neighborhood at the top of the city’s ranking. The report shows Pinheiros ahead of traditional locations like Vila Madalena and Brooklin, which ended the period with the square meter at R$ 14,423 and R$ 13,500, respectively. The region saw a 3.6% price increase in the second quarter, a pace higher than the city’s average.
Luxemburgo: The most expensive in BH
In Belo Horizonte, the Luxemburgo neighborhood, in the Centro-Sul region, has become the most expensive for those looking to buy a property. The median price in the neighborhood reached R$ 8,986 per square meter, surpassing neighborhoods like Lourdes (R$ 8,302/m²) and Savassi (R$ 8,277/m²), traditionally the most expensive in the Minas Gerais capital. The rise of Luxemburgo to the top of the ranking reflects a movement of intense appreciation and demand for high-end properties in the region. The neighborhood also ended the semester as the most expensive for renting (for the first time).