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The Cities With The Most Expensive Square Meter In Brazil Surpass São Paulo And Rio De Janeiro. Find Out Why This Is The New Paradise Of Luxury Real Estate.
The most expensive square meter in Brazil is not in Ipanema, Leblon, or in the luxurious São Paulo neighborhood of Jardim Europa – it is located on the coast of Santa Catarina. Four of the five cities with the priciest real estate in the country are in this privileged region of the Santa Catarina coast, surpassing even metropolises like São Paulo (SP) and Rio de Janeiro (RJ).
The region, known for its paradise-like beaches and skyscrapers by the sea, has become the new paradise for real estate investors, with prices rising at an accelerated pace.
Balneário Camboriú Leads The National Ranking
The absolute champion in real estate prices is Balneário Camboriú (SC), famous for its skyline filled with luxury skyscrapers. The city boasts the most expensive square meter in the country – averaging R$ 14 thousand – maintaining its lead since 2022. This easily surpasses the average values of São Paulo (around R$ 11.5 thousand) and Rio de Janeiro (approximately R$ 10.5 thousand).
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Balneário, dubbed the “Brazilian Dubai”, has only 139 thousand inhabitants but attracts a legion of tourists and millionaires. The coastline is highlighted by attractions such as Parque Unipraias and the Ferris wheel FG Big Wheel, symbols of a city focused on a high standard of living. It is no surprise that Balneário Camboriú also houses 6 of the 10 tallest buildings in Brazil – a reflection of extreme verticalization and the search for privileged sea views.
Balneário Camboriú (SC) impresses with its beachfront skyscrapers. The city has become synonymous with luxury and already has the most expensive square meter in Brazil, surpassing Rio and São Paulo.
Thanks to this combination of luxury and natural beauty, Balneário Camboriú has seen prices surge nearly 12% in just one year. Local brokers report that high-end beachfront properties have already surpassed any national benchmark – and could reach R$ 100 thousand per square meter in the coming years, according to experts.
With so little land available for new constructions, the law of supply and demand speaks loudly: the fewer the lots, the more expensive properties become, a phenomenon that also ends up valuing neighboring cities.
Itapema: The Neighbor In Meteoric Rise
Adjacent to Balneário, the small Itapema (SC) has experienced an impressive real estate boom. With just over 75 thousand permanent residents, but capable of receiving 1 million tourists in the summer, Itapema now has the second most expensive square meter in Brazil, in the range of R$ 14.3 thousand. In just 12 months, property prices in the city increased by 13%, a growth that exceeds that of Balneário.
Itapema has become one of the most sought-after cities by investors – leading rankings for the best return for those buying real estate off-plan. The city, known as the “capital of ultralights” for its aerial sports, offers beautiful beaches (such as Meia Praia) and new luxury condominiums popping up at every corner.
Aerial view of Itapema (SC), highlighting Meia Praia. The city has seen property prices skyrocket and is now among the most expensive in the country.
Like Balneário, Itapema suffers from a lack of available land, which further drives up property prices. Construction companies from all over the country have turned their eyes there, launching high-standard buildings to meet the growing demand.
It is no surprise to see luxury apartments advertised at astronomical prices – many buyers are outside investors drawn by the expectation of continuous appreciation and the quality of life in the region.
Itajaí: Port, Beach, and Quality of Life Drive Prices
Another star of the northern Santa Catarina coast is Itajaí (SC). The port city of about 290 thousand inhabitants stands out for its strong economy – it has the second largest GDP in Santa Catarina – and its strategic location on BR-101, between Balneário Camboriú and Florianópolis. Itajaí currently boasts one of the most appreciated square meters in Brazil, costing an average of R$ 12 to 13 thousand.
This price has already placed Itajaí ahead of the capital of São Paulo in the rankings: in 2024, the city surpassed São Paulo and took the 5th position nationally in property prices.
View of Itajaí’s port (SC), one of the busiest in the country. The city combines a strong economy with natural attractions – such as Praia Brava – and has seen property prices soarr.
But what explains a medium-sized city surpassing traditional metropolises? In Itajaí, the answer lies in several factors. First, tourism: the region has the famous Praia Brava, which attracts visitors and luxury developments, creating a high-end real estate hub within the city.
Second, the local infrastructure and economy: the port of Itajaí is one of the busiest in the country, generating jobs and income, and there are several multinational companies established there.
Third, the quality of life: living in Itajaí means being close to nature (river, sea, and Atlantic forest) without giving up urban services – an attraction for those seeking balance. All of this has boosted the demand for properties and, consequently, prices.
According to experts, the appreciation of the coastal cities in Santa Catarina was accelerated by the pandemic, when many people realized the advantages of working remotely in places with more nature and tranquility. Cities like Itajaí offer good infrastructure, contact with nature, and the sought-after “quality of life”, factors that became gold after 2020.
Moreover, as they are smaller municipalities in area, with a high concentration of vertical developments, any increase in demand triggers significant price jumps.
Four Out of The Five Most Expensive In The Country – And Rising!
Santa Catarina today dominates the top of the Brazilian real estate market. In the FipeZap survey of 2025, Balneário Camboriú, Itapema, Itajaí, and Florianópolis (the capital of Santa Catarina) all appear among the five cities with the most expensive square meter in the country.
The only “intruder” in The Top 5 is Vitória (ES), another medium-sized coastal city that shares similar attributes – beautiful beaches and quality of life – with the cities in Santa Catarina. Meanwhile, Rio de Janeiro and São Paulo, which many assume to be the most expensive real estate markets, have fallen behind: today they occupy only the 9th and 6th positions in the national average price ranking, respectively.
This surge in prices in Santa Catarina has transformed the region into the “Eldorado” for investors. Those who purchased properties a few years ago in Balneário, Itapema, or Itajaí have seen their wealth appreciate well above the national average – often double the inflation.
Large investors and celebrities have also joined the game: there are luxury condominium projects emerging everywhere, some with billion-dollar investments. The expectation of continuous appreciation fuels a modern gold rush, with people from all over the country seeking a piece of this beach paradise.
However, experts warn of a potential maturity point for this market in the future. Prices do not rise forever, and at some point, they may stabilize. For now, though, Santa Catarina reaps the benefits (and also the challenges) of being the new hub of high-end real estate in Brazil. Lack of land, skyscrapers reshaping the landscape, and a cost of living that accompanies this appreciation are increasingly present themes in the daily lives of these cities.
But what about you? What do you think of these cities and the real estate boom on the Santa Catarina coast? Are they worth the astronomical price or not? Let us know in the comments!
Uau! Caro demais!