The estimated price of the square meter in the building Downtown São Luis is 15 thousand Reais. A little bit higher than the price per square meter in downtown São Paulo. The price of the apartment is in the range of 270 thousand dollars considering that the property is only 18 square meters – about 193 square feet!
This is the plant of the smaller apartment launched in Brazil, which will be marketed in a venture of the construction company Setin in downtown São Paulo. The largest unit sold on this launch will be 42 square meters.
Most of the people interested in the new Setin apartments, which is not yet open for sale, are investors looking for rental income in the region, but also young people seeking real estate to live. The target audience is the Brazilian A Class or higher medium class.
Smaller apartments are a trend in big cities around the world and now in Sao Paulo because they are more suited to the lifestyle of young, single, and these apartments make the purchase more affordable for properties close to the workplace and service regions, each increasingly valued in a city like São Paulo facing severe mobility problems.
According to Exame Magazine, in Tokyo, Japan, where the price per square meter is more valued than that of São Paulo, you can find smaller units than those sold in the city.
Mobility is the biggest attraction of the microapartaments. Usually these properties are near areas with services or concentration of commercial buildings, and can be easily accessed, including using public transportation.
The acquisition of so-called microapartamentos is recommended for those who live alone, and spend most of the day working or away from home and want to have less spending on cleaning and maintenance of the property. In Brazil, the microapartamentos, were dubbed “microapertamentos” something like “micro tightening”.
The option for the apartments means higher quality of life for those who need to live in downtown São Paulo to reduce the travel time to their work site and take advantage of the large amount of local services.
However, considering the size, the price of the microapartaments is proportionally larger than a normal sized unit in the region. According to Terra, in 2013, a similar venture with 19m2 was fully sold in one day.
Sources: Exame, Terra and Setin Incorporadora.