Solid growth in real estate sales in the city of São Paulo, sharp decline in new launches

The residential real estate market in São Paulo had sales expansion in July, while starts shrank, according to a survey released by the Housing Union (Secovi-SP) on Friday, 2.

The survey showed the sale of 5,955 new housing units in the capital of São Paulo in July, a result 10.8% higher than the same month of 2021.

The value of homes sold in July amounted to R$2.77 billion (US$527 million), an increase of 1.6% year on year.

The sales pace (percentage of units sold compared to launches and inventory) decreased to 8.5% in July from 10.2% a year earlier.

In the cumulative 12 months (August 2021 to July 2022), 69,647 units were sold, an increase of 6.4% compared to the previous period (August 2020 to July 2021).

In terms of value, R$35.2 billion was sold in the last 12 months, a decrease of 3.4%. The sales pace in 12 months decreased to 53% from 59% in the previous period.

LAUNCHES

In July, 4,500 housing units were launched in the city of São Paulo, 35.1% less than in July of the previous year.

A total of 84,247 units were placed on the market in São Paulo during the 12 months, 3.0% more than in the previous period.

INVENTORY

The state capital of São Paulo ended the month of July with an inventory of 64,181 units for sale, taking into account properties in the planning stage, properties under construction, and newly built properties.

The number of properties offered was 36.4% higher than in July 2021.

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