Brazil: medium and high-end properties represent 30% of total housing sales

The sale of new properties in Brazil increased by 11.9% in the first ten months of 2022, when compared to the same period of 2021.

In all, 133,891 units were sold between January and October last year, a number that corresponds to the best performance in the sector for the period since the creation of the historical series, in 2014.

The medium and high-end segment (MAP) saw the most significant increase in sales.

Until October, the sector grew 81% in the annual comparison, with the sale of 38,943 units. The rise meant that sales in the MAP sector accounted for 29.8% of all properties sold in Brazil.

The data comes from a survey carried out with 18 companies associated with ABRAINC (Brazilian Association of Real Estate Developers), in partnership with FIPE (Fundação Instituto de Pesquisas Econômicas).

In the opposite segment, the properties of the Casa Verde e Amarela (CVA) social program registered a total of 91,924 houses sold. Apartment deliveries, compared to October 2021, increased by 13.3%, totaling 59,749 new properties.

“The drop in unemployment and the increase in family income, which has already risen 4% since the beginning of 2022, ensured the good performance of the real estate market in the period”, says Luiz França, president of ABRAINC.

According to him, the Brazilian economy is improving and it is possible to observe a cooling in production costs and an increase in jobs in the civil construction and real estate development sector, which indicates improvement for the coming months.

With information from Forbes