The new real estate market in the city of São Paulo shows signs of cooling off after a long period of high in the pandemic.
The February data from the Secovi-SP monthly survey show the sale of 4,228 new residential units in the capital of São Paulo, a drop of almost 16% compared to the same month in 2021.
In the month, the PSV (Global Sales Value) was R$ 2 billion, almost 4% lower than in February 2021.
Ely Wertheim, president of Secovi-SP, says he sees a moment of stabilization.
“It means that we have reached a plateau, after strong growth. This plateau has a lot to do with the political situation of the election year, with interest rates and inflation. but a stability of 20% more or less with a downward bias is already clear”, he says.
The offer is still high, with 62,876 units available for sale in the month, which represents a level almost 48% higher than in February last year.
According to Secovi-SP, the offer consists of properties in the plant, under construction and ready, called stock, launched in the last 36 months.
Joana Cunha with Andressa Motter and Ana Paula Branco
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