Limited supply drives up prices and opens a new race for luxury developments in alternative neighborhoods.

The real estate market in São Paulo is going through one of the most critical moments in its recent history: a shortage of land in established neighborhoods such as Itaim Bibi, Jardins and Vila Nova Conceição This has made luxury an even rarer commodity. According to industry data, in the second quarter of 2025 alone, 1,146 high-end units were launched in the city, more than double the number for the same period in 2024. Even so, pent-up demand far exceeds supply, generating increasing price pressure and a gradual migration to areas such as Pinheiros and Vila Mariana.

THE Luanderson Novaes, CEO of All BrokersAnalyze the situation clearly:
“The scarcity of land in neighborhoods like Itaim, Jardins, and Vila Nova Conceição significantly limits the supply of ultra-high-end, luxury, and super-luxury properties. Today, there is pent-up demand for this type of development, and in the near future, many buyers will have to migrate to other neighborhoods or pay much more to remain in these areas. The time to buy is now. We are still in a scenario where the law of supply and demand is working in our favor.”

The trend is clear: while the most coveted addresses become inaccessible in volume, projects in alternative neighborhoods are gaining prominence. Pinheiros already concentrates more than 26% of high-end launches, followed by Vila Mariana with 17%. For investors and buyers, this transition represents both a challenge and an opportunity: to anticipate the appreciation that will inevitably accompany the migration of São Paulo's elite.