The real estate market in the city of São Paulo closed the month of September with an expansion of launches and sales, according to a survey by the Housing Union (Secovi-SP) anticipated for the Broadcast.
The scenario indicates resilience despite the environment of higher interest rates and proximity to elections, which is usually part of consumers delaying business.
Launches in September were up 5.9% from the same month last year, totaling 8,225 residential units.
In turn, launches in the last 12 months (October 2021 to September 2022) had an expansion of only 1% compared to the previous period (October 2020 to September 2021), totaling 83,993 units.
The year was better for the medium and high-end market.
Here, launches grew 12% in the last 12 months, 48,100 units. In the economic segment (within Casa Verde and Amarela), there was a decrease of 10%, to 35,900 units.
Sales
Sales in September grew 22.9% compared to the same month last year, reaching 6,255 units.
In turn, sales in the last 12 months up to September accumulated growth of 6% compared to the previous 12 months, totaling 69,812 units.
In financial terms, sales rose 17.5% in the month, moving R$ 2.775 billion. In 12 months, sales grew 2%, reaching the level of R$ 35.515 billion.
The indicator that measures the speed of sales (total units sold in relation to total launches in the period) was 8.6% in the month, a drop of 0.5 percentage point in the annual comparison.
Already the speed of sales accumulated in 12 months dropped to 51.1%, indentation of 6.1 percentage points.
Inventory
The capital of São Paulo ended September with a stock of 66,646 units available for sale, considering properties in the plant, under construction, and newly built. The amount is 30.5% higher than a year earlier.
Considering the current pace of sales, it would take 9 months to liquidate the entire inventory of properties in the low-income segment and 13 months for mid-range and high-end units.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
