Santa Catarina property boom lifts Itapema, Itajaí prices

In Itapema, Santa Catarina, the Number One Residence development by Grupo N1 has seen its unit prices surge from R$975,000 at launch to roughly R$6 million on delivery, a rise of about 515% over seven years. The 97‑unit tower, located in the Canto da Praia district, now sits in Brazil’s most expensive residential market, with the average price reaching R$15,226 per square metre, according to the FipeZAP index. CEO Josemar Pasqualotto Júnior attributes the appreciation to the project’s location, design standards and upcoming infrastructure such as a new marina.

Meanwhile, Itajaí, another coastal city in the state, is experiencing a rapid expansion of compact one‑bedroom apartments. The number of such launches has tripled in recent years, driven by strong buyer interest and an average price of over R$13,200 per square metre – also among the nation’s highest. The construction union Sinduscon reports a 7.3% price rise for these units in the past year, the strongest growth across all residential types. Construtora CK plans to pre‑launch about 600 compact units, with CEO Charles Kan linking the demand to the city’s economic diversification, job creation and tourism appeal.