Real estate developments in São Paulo's Mooca, a blue-collar neighborhood. Photo: Klaus Balzano
After a heated year and a half, Brazil’s medium and high-income real estate segment is beginning to cool down, with customers showing more caution when buying.
Some large developers have already seen a drop in sales for Q3 2021, despite having finalized more properties. In the last nine months, Cury, Cyrela, Direcional, Even, EZTec, Helbor, Lavvi, Melnick, Moura Dubeux, Miter, MRV&Co, Plano&Plano, RNI, and Tenda launched property worth a combined total of BRL 24.07 billion, but sold just BRL 21.28 billion.
With sales difficulties and troubling macroeconomic factors — as inflation and interest rates continue to rise — companies may adopt more cautious postures and seek to launch fewer new properties.
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