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Real estate launches down 8% in 2020 in São Paulo, while sales rise 4%

RIO DE JANEIRO, BRAZIL - Amid the novel coronavirus pandemic, the city of São Paulo saw new real estate launches drop 8% in 2020 to 60,000 units, while sales rose 4% to 51,400 units. The figures came from the São Paulo Housing Developers' Association (SECOVI-SP), released during a press conference on Wednesday, February 10th.

According to chief economist Celso Petrucci, developments linked to Brazil's public housing program, now called "Casa Verde e Amarela", accounted for 29,400 launches last year, while medium and high-end properties registered 16,600 launches, and up to one bedroom . . .

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