Luxury apartment sales in São Paulo dropped 39% in the first half of 2026
High-end real estate markets in São Paulo are contracting after record activity in 2025, with luxury unit sales falling by 39% and high-standard units down by 47% year-on-year.
Sales of luxury apartments in São Paulo have halved compared to the previous year. In the first half of 2026, units sold declined by 39% relative to the same period last year. New project launches also retreated, dropping 53%. The second quarter saw a sharper decline, reaching a 53% decrease in sales figures. This contraction follows record launch and sales numbers recorded during 2025. Experts attribute the downturn to high mortgage rates sustained over time, a larger available inventory of units, and lingering uncertainty regarding the nation's economic direction. These factors are causing wealthier families to delay purchase decisions despite their existing housing status. The average price for high-standard properties reached R$ 2.9 million in the prior period, while luxury segment prices hit R$ 10.8 million. Consultation leader Fábio Tadeu Araújo noted that this demographic is driven by desire rather than necessity when making acquisitions.
