Business

Low-interest rates spur demand for high-end properties in São Paulo

real estate brazil

Amid the worst economic crisis in Brazil’s history and corruption scandals that interrupted infrastructure works in Brazil, the construction sector saw itself throttled by a lack of demand for residential and commercial properties and a scarcity of public building contracts. But although the sector’s overall situation remains bleak, one segment is blossoming: luxury residential properties.

According to Abrainc, Brazil’s property developers association, in the past 12 months there was a 20.2 percent increase in new medium and high-end residential properties. Net sales—the balance between sales closed...

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