Real estate credit via savings reaches R$ 17.9 billion in July, says Abecip

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In July, real estate financing with savings resources totaled R$ 17.9 billion, according to data from the Brazilian Association of Real Estate Credit and Savings Entities (Abecip).

The volume is 4.5% lower than the same month last year, but represents a 12.8% increase in relation to the immediately previous month.

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According to Abecip, the result is the best for a month this year, and is also the second largest volume for July in the entity’s historical series.

In all, in the first seven months of 2022, there were BRL 103.5 billion in financing through the Brazilian Savings and Loan System (SBPE), down 10.6% year-on-year.

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The number of units financed in July, at 73,100, was also the best recorded in 2022 so far, although it was 9.9% lower than the one seen in the same month of 2021.

Compared to June this year, there was an increase of 18.5%. From January to June, 427,900 properties were financed with savings resources, down 14.3% on an annual basis.

In construction financing, disbursements totaled R$3.8 billion in July, led by Caixa Econômica Federal (CEF), with R$2.2 billion, followed by Bradesco, with R$618 million, and by Itaú, with BRL 563 million.

In the acquisition, it was R$ 14.1 billion, also under the leadership of Caixa, which disbursed R$ 8.6 billion in the month. Itaú follows, with R$ 2.9 billion, and Bradesco recorded disbursements of R$ 1.3 billion.

net funding

Abecip also informs that SBPE savings had net withdrawals of R$ 11.6 billion in July, the worst result for the month for the last 28 years.

The entity points out that historically, July is usually a month of net funding. In the year through July, withdrawals from SBPE savings amounted to R$ 48.2 billion.

Altogether, the savings balance was R$772.3 billion, 3.2% lower than a year earlier, and 0.88% lower than the previous month.

Source: CNN Brasil

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