Known as the “Brazilian Dubai”, the city on the north coast of Santa Catarina, Balneário Camboriú, surpassed the capitals of Rio de Janeiro and São Paulo and now has the most expensive square meter in the country.
In total, the average for the purchase of a square meter in the city is R$ 11,447, according to a survey released in December 2022 by Fipezap. Cities like Vitória (ES), Itapema (SC), São Paulo (SP) and Rio de Janeiro (RJ) were behind Balneário Camboriú, with BRL 10,481, BRL 10,303, BRL 10,196 and BRL 9,860, respectively.
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With high rise luxury buildings, the city is expected to see an even greater increase in property values in the future. From investments in common areas such as the promenade of Praia Central, a greater demand for luxury buildings and skyscrapers in the municipality is expected.
In total, more than R$ 330 million will be invested in repair works in the area.
According to real estate market specialist Bruno Cassola, after the revitalization of the area in the area, real estate prices in the region should increase by up to 30%.
“As soon as the project is completed, we know that both residents and tourists, when they set foot on the new boardwalk and in the waterfront parks, will have the feeling of being in a place with first-world levels of infrastructure,” he said.
Other works projected for 2023 in Balneário Camboriú should attract even more the eyes of other investors. With a new drainage system project for the dispersion of rainwater in the city, the work should attract the eyes of the real estate market.
Recently, the city has struggled after weeks of heavy rain. During the period, several beaches in the municipality were considered unfit for bathing by the Institute of the Environment of Santa Catarina (IMA).
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