Is investing in downtown São Paulo still a trend?
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With Law No. 17,577/2021, which provides for the Requalifica Centro (Retrofit) Program, it has become more interesting to invest in downtown São Paulo . The purpose of the law is to requalify properties in the central region to boost the creation of buildings for housing purposes and attract various investments.
Until the second half of the 20th century, the central region of São Paulo was considered the city's main financial center. Businesses, government offices and housing were the center of life in downtown São Paulo.
However, over the years, the region suffered from an intense process of degradation, which gave rise to a series of initiatives by civil society and public authorities to promote the revitalization of the center, which houses several cultural spaces, such as the Teatro Municipal de São Paulo and the Pinacoteca.
Today, with the Retrofit program, attention is once again turning to downtown São Paulo, sparking interest in investing in that region. With that in mind, continue reading to understand why investing in downtown São Paulo and the advantages of living in a central region is important.
Recovering the old in São Paulo
The infrastructure present in downtown São Paulo allows the region to be considered one of the most important in the capital. Thus, access to services, good cultural and leisure options, as well as the probability of living closer to work make the center an important investment alternative.
Although there is much talk about the degradation of central regions in Brazil as a whole, São Paulo is taking an important step towards revitalizing its center with Retrofit. This is because, with Requalifica Centro, the city government has offered several incentives to attract investment in the region, such as:
- IPTU exemption for three years;
- ITBI exemption for properties that are requalified;
- Remission of IPTU credits;
- Reduction in the ISS rate related to services that promote requalification works.
These are just some of the tax incentives offered by the City Hall to attract entrepreneurs and large construction companies. With the increase in investments, there are also more residents and visitors, which strengthens local commerce and increases the amount of money in circulation.
Advantages of investing in downtown São Paulo
Currently, with around 400 thousand residents, the center of São Paulo is an interesting investment alternative, whether in real estate to buy or in opening businesses, such as restaurants, clothing and artifact stores, among others.
With well-known neighborhoods that are part of the downtown region, such as Bela Vista, Consolação and Sé , the center offers a wide cultural variety, such as different museums and theaters, as well as access to services and good public mobility, due to the presence of several subway stations nearby.
With the Retrofit program, which is another step towards revitalizing the region, the center has the capacity to grow. In this way, the appreciation of properties over the years will provide an interesting financial return.
It is important to keep in mind that the revitalization program created by the City Hall involves attracting businessmen and developers to the region, with a consequent increase in residents. After all, the idea is to revitalize unused buildings.
To find out more about the advantages of living in downtown São Paulo, you can check out a complete article on the subject on our website !