Rental Yield Report Santa Catarina 2026
Comprehensive analysis of rental returns across all major areas — short-term vs long-term yields, occupancy rates, and rental income projections.
Konstantin Bievskikh · CRECI-SC 59616-F
Читать по-русски →Official Yield Understates Real Yield by 2-3x
FipeZAP's official rental-yield data for Santa Catarina shows 3.5-4.5% gross annually. That figure captures only declared long-term leases and misses the short-term, seasonal letting that generates the bulk of income in the coastal districts.
FipeZAP counts only declared long-term leases — it doesn't see seasonal short-term letting, which is where the real money is made in resort districts.
Plan B: Real net yield — after all costs — ranges from 4-6% in oversupplied seasonal districts to 10-14% in well-selected units under active short-term management. Gross figures mislead: furnishing, taxes and operating costs absorb a significant share. This report traces the full chain, from gross to net, and shows where the real money is versus the pretty headline.
Yield Table by District
| District | Profile | Entry (studio/1BR) | Official FipeZAP | Gross | Net | Strategy |
|---|---|---|---|---|---|---|
| Jurere | resort-premium | ~$105k | 3.5% | 18-22% | 10-14% | short-term, active |
| Canasvieiras / Cachoeira / Ponta das Canas | resort + tech | ~$114-166k | ~4% | 15-19% | 10-13% | short-term + tech winter |
| Ingleses | resort-party | ~$136k | 4.2% | 13-16% | 7-10% | short-term, flip |
| Trindade / Santa Monica | university | ~$68k | — | 11-14% | 9-13% | long-term, year-round |
| Campeche | nomad | ~$120k+ | — | 12-15% | 7-10% | short-term, selective |
| Bombinhas / Bombas | resort-seasonal | ~$136k | — | 7-9% | 4-6% | seasonality hurts |
| Balneario Camboriu | premium-seasonal | high | — | 5-7% | 3-5% | season only |
| Itapema | resale | high | — | — | n/a | no rental market, flip |
| Porto Belo | long horizon | mid | — | — | n/a | resale, 10 yr+ |
Entry prices are for a studio/1BR bought to let, before furnishing. Yields are ranges, not point figures: the real number depends on entry price, letting strategy, and quality of management.
What Sits Between Gross and Net
Gross yield = annual rental income / entry price. It's the headline number sellers show. An investor's real return is net, after the following.
One-off cost at entry
Furnishing & appliances~+20% on top of the property price. Short-term coastal letting isn't possible without it — net yield is calculated on the full sum invested, property plus furnishing.
Annual operating costs
Condominium feePaid by the owner under short-term letting (by the tenant under long-term)
IPTU (municipal property tax)~R$1,500-1,800/year for a studio/1BR
Utilities (electricity, water)On the owner short-term, on the tenant long-term
Management & servicingTurnover cleaning, platform fees, a manager: ~20% of income short-term, ~8% long-term
Key Insight
Under short-term letting the owner carries the condo fee, utilities, and heavy operations directly — so the difference in NET yield between short- and long-term letting is often only 2-3 percentage points, even where the gross differs by half. Short-term earns more, but the effort is disproportionately greater.
Income tax on rent and capital-gains tax on resale are not included here — they depend on ownership structure (individual/company), residency, and holding period, and are calculated individually.
On Seasonality — Applies Market-Wide
Across most of Florianopolis and the coast, the calendar is the single biggest driver of returns.
Where the income is made
up to ~95%
High Season
Dec 15 - Mar 15
Peak within season
Christmas, New Year, Carnival
~50% or lower
Low Season
Apr - Nov (9 months)
Underwrite any coastal purchase on full-year economics, not on peak rates. Off-season, many owners either don't let, or take low-value long-stay tenants.
Key Insight
This is exactly the source of the gap on page 2: FipeZAP averages the whole year, including nine largely dead months — the real money is made in the narrow Dec 15-Mar 15 window, and that concentration is what turns gross yield into net under active short-term management.
Occupancy figures are Plan B's own field estimates from active listing performance across island and mainland resort districts, not a single published index.
District Observations — The Island (Florianopolis)
InglesesPrestige
Resale play, not passive buy-to-let~$136k
Entry
7-10%
Net Yield
95% peak / 50% off
Occupancy
Argentine tourism epicentre, open sea, active-holiday format. Groups sharing units raise wear and management load. Strong appreciation (~13-15%/yr) is the real thesis; rental works, but needs active management.
Canasvieiras / Cachoeira / Ponta das CanasFavorite
Our top pick — best combination on the island~$114-166k
Entry
10-13%
Net Yield
~70% off-season (tech)
Occupancy
Same seasonal economics as Ingleses, calmer water, families rather than groups. Sapiens Parque tech hub keeps occupancy up off-season with long-stay, low-impact tenants. Works for resale and buy-to-let alike.
Trindade / Santa MonicaFavorite
Most underrated — year-round university demand~$68k
Entry
9-13%
Net Yield
~80% year-round
Occupancy
Education-driven, not seasonal — UFSC and the Police Academy anchor structural demand. New supply scarce; projects sell out in hours. Buy micro-units (15-30m2). Lower headline rent, materially higher stability.
JurerePrestige
Prestige play more than a yield playfrom $105k (studios)
Entry
10-14%
Net Yield
95% peak / 70% off
Occupancy
Internacional = celebrities, foreign money, stratospheric pricing. Tradicional = more accessible, where growth is spilling. Classic developers here run pricier; enter selectively, on the project, not the name.
CampechePrestige
Already overheated — lifestyle buy, not a yield buy~$120k+
Entry
7-10%
Net Yield
90% season / 60% off
Occupancy
Digital-nomad hub, real infrastructure a notch below Jurere. Flight-path noise centrally, single access road. Entry pricing near Jurere without matching infrastructure — we'd be cautious; enter only on the right project.
Lagoa da Conceicao — a well-known district, but not one where we currently have a specific investment thesis to add.
District Observations — The Mainland Coast
Everything traces back to Balneario Camboriu: land there ran out, developers pushed into neighbouring cities, and prices rose in a wave outward from BC.
Balneario Camboriu (BC)Resale/Hold
Brazil's Dubai — the benchmark, not a yield playhigh
Entry
3-5%
Net Yield
~50% (empties off-season)
Occupancy
Tallest towers in Latin America, acute land scarcity, per-m2 up to R$200,000. A seasonal-presence format rather than year-round living — it's BC that pushed pricing into the cities below.
Praia Brava (Itajai)Resale/Hold
Premium entry, justified at scale$1M+
Entry
5-10 years
Horizon
Growth Driver: stepped massing — sea view for every unit
Part of the same wave from BC, but with a signature layout: buildings step back and rise higher the further from the shore, so every unit keeps its sea view — unlike BC's chaotic front row. This is where Brazil's elite is now choosing to buy over BC's crowding. Demand here isn't driven by rental yield — buyers are acquiring an asset to preserve capital and for growth; people buy to hold. Not to be confused with the island's earlier-stage Praia Brava.
ItapemaResale/Hold
Asset-hold play, not a rental playfrom $400k
Entry
5-10 years
Horizon
Growth Driver: proximity to BC & Porto Belo — price wave from BC
Developers moved in from BC and prices climbed fast, riding the same wave outward. Demand here isn't driven by rental yield — buyers are acquiring an asset to preserve capital and for growth; people buy to hold, not to let. One large construction site today.
PerequeResale/Hold
Real potential, 5-10 year horizon$350-500k
Entry
5-10 years
Horizon
Growth Driver: proximity to BC & Porto Belo
Like Itapema, currently a construction site — but with genuine upside as tourism follows from nearby Bombinhas, Praia Grande, Bombas over the next 5-10 years. Demand here isn't driven by rental yield — buyers are acquiring an asset to preserve capital and for growth; people buy to hold. A patient play.
Bombinhas / Bombas / Praia GrandeResale/Hold
Cleanest beaches, sharply seasonal~$136k
Entry
4-6%
Net Yield
~30% off-season
Occupancy
Three Blue Flag beaches, quality tourism from Argentina, Chile, Peru. Rates moderate; seasonality is pronounced and pulls net yield down. Underwrite the off-season vacancy honestly.
Porto BeloResale/Hold
The city of the future — very long horizon$300-500k
Entry
10+ years
Horizon
Growth Driver: new districts for 50-60k residents, not high-rises
Whole comfortable districts being built for 50-60k residents, world-class architects, celebrity-backed — not the vertical towers of BC. Demand here isn't driven by rental yield — buyers are acquiring an asset to preserve capital and for growth over a minimum 10-year horizon; people buy to hold.
Where We'd Be Cautious — A Practitioner's View
This is our opinion as of July 2026 — not a data verdict. Santa Catarina moves fast. We put it as plainly as we would to an investor with a $200-300k budget, because knowing where NOT to buy is as valuable as knowing where to.
CoqueirosGreat to live, weak to invest— old stock, scattered amenities, need a car
Centro (Florianopolis)Growth, but not the coastal kind— not where tourism demand lives
Praia Brava (island, near Ingleses)Right area, wrong horizon— 5-10yr timeline, pricey even early-stage
“Live here, don't invest here”Weak rental demand, harder resale— Sambaqui, Joao Paulo, Cacupe, Ribeirao da Ilha, Lagoinha do Leste
The no-name developer trapCompletion risk, not location risk— Santinho, Rio Vermelho, Vargem Grande/Pequena, Saco dos Limoes — experienced buyers only
The common thread: headline appreciation rarely captures liquidity, completion risk, or whether real rental demand exists at the unit level. The gap between the spreadsheet and the situation on the ground is exactly what years living in the country — and an investor's eye rather than a seller's — are for.
Methodology & Sources
- Per-m2 prices — from active developer price lists (primary market), July 2026
- Official yield — FipeZAP (declared long-term leases)
- Real yield — calculated from actual entry prices and rental rates observed in Plan B's practice in Santa Catarina, net of furnishing, IPTU, condo fees, utilities, and management
- Rate R$5.15/USD as of 16.07.2026
- Ranges, not point figures: real yield depends on entry price, strategy, and management
Questions about this market?
Independent advisory for foreign investors in Santa Catarina.
Get in touch →