Brazil’s biggest city is bursting with opportunity
Discover Sao Paulo's Real Estate
Located at the center of a vast urban region that is home to more than 33 million people, Sao Paulo is one of the world’s largest cities and Brazil’s financial capital. A diverse city that has long welcomed immigrants from all over the world, it is famous for its gastronomy, fashion and cultural events. It boasts world-class museums and thriving neighborhoods, and it is one of the most popular destinations in the world for both business travelers and tourists.
Culture, History, and Business
Sao Paulo began as a Jesuit mission when a college was built on a hill in the area on January 25, 1554. For the next two centuries, it remained a small and isolated village. During the 16th and 17th centuries it became a gateway to the country’s vast interior regions and it grew as gold was discovered nearby. The growth of sugar cane also fueled the city’s early economy. Following Brazil’s independence in 1822, Sao Paulo was declared an Imperial City and coffee production became its main economic sector. Beginning in the early 20th century, it transformed from a mid-sized city to one of Brazil’s main population hubs and welcomed millions of immigrants.
Today, the economy has largely transitioned away from traditional manufacturing industries and is focused more on the service economy. It is one of the most important financial centers in the world and hosts the largest stock exchange in Latin America. Science, technology, education, healthcare and tourism are also important economic sectors. Sao Paulo is the wealthiest region in Brazil and accounts for over 10 percent of the national GDP.
Real Estate Appeal
Sao Paulo is one of the most promising real estate markets in Latin America. As both a business and tourist destination, it attracts all types of travelers, from traditional tourists to corporate travelers. That makes short-term rental properties especially promising as they can be marketed to a broad range of potential tenants.
Real estate prices are also more affordable today than they have been in the past. After peaking in 2014, property prices fell following Brazil’s economic troubles in 2015 to 2016. While the real estate market is rebounding, the cost of purchasing property is still lower than it has been in the past. As a result, the current moment offers a prime opportunity for investors to find deals in one of the world’s most visited and desirable cities.
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