Brazilian real estate market: property sales grow 12% in 2022

Following the rise in m² prices of residential apartments ready for sale, the sale of real estate also registered an increase in 2022.

The growth compared to the previous year was 11.9%, considering the months from January to October, and corresponds to the best performance for the period since 2014 (the year in which the historical series began), according to the Brazilian Association of Real Estate Developers (Abrainc).

The survey, carried out in partnership with the Economic Research Institute Foundation (Fipe), points to a total of 133,891 units sold in the period.

The result of so-called net sales, those calculated based on sales volume and the number of canceled units in the same period, increased 13.4% in the same period.

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When analyzing the types of real estate developments, the highest increase in sales was registered in medium and high standard properties, 81%, with 38,943 units sold in the period.

The number of units launched and deliveries, however, dropped by 8.1% (with 37,588 new properties offered on the market) and by 3.6% (totaling 8,450 units), considering the same time horizon.

Properties included in the federal government’s Casa Verde e Amarela (CVA) program, in turn, accounted for the largest share of the market between January and October 2022, with 70.2% of sales, 62.6% of launches (about a total amount of 100,400 units presented to the market) and 87.6% of the units delivered (in relation to the 69,163 total).

The expressive percentages, however, were not enough to keep the sector’s numbers positive in comparison with the same period in 2021: a 6.3% drop was recorded in the volume of launches (62,807 units until October) and a 4.3% drop in in the number of properties sold (91,924 units).

“The sector continues to perform well. 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. The improvements at ‘Casa Verde e Amarela’ have expanded access to housing and contribute to the fight against the housing deficit and the generation of jobs”, points out Luiz França, president of Abrainc, when justifying the results of the last survey, carried out based on the results of 18 companies associated with the entity.

With information from Gazeta do Povo