The market in Brazil’s largest city closed the month of September with an expansion of launches and sales, according to a survey conducted by the Housing Union (Secovi-SP).
The scenario shows resilience, despite the environment of higher interest rates and the proximity to elections, which usually cause some consumers to postpone deals.
The number of new housing starts in September rose 5.9% year over year to a total of 8,225 housing units.
On the other hand, registrations in the last 12 months (October 2021 to September 2022) increased by only 1% compared to the previous period, reaching 83,993 units.
The market for mid- and high-end units was better this year, up 12% over the past 12 months (48,100 units).
The economy segment (in-house green and yellow) saw a 10% decline to 35,900 units.
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September sales rose 22.9% year-over-year to 6,255 units.
On the other hand, sales for the 12 months ending in September rose 6% from the previous 12 months to a total of 69,812 units.
In financial terms, sales rose 17.5% this month to $2.775 billion. In 12 months, sales increased by 2%, reaching R$ 35,515 (USD 6.5) billion.
The indicator that measures the pace of sales (units sold relative to the total number of new releases in the period) was 8.6% month-on-month, down 0.5 percentage points year-on-year.
The 12-month cumulative sales velocity fell to 51.1%, a decrease of 6.1 percentage points.
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The capital city of São Paulo ended September with an inventory of 66,646 units for sale, taking into account properties in the planning stage, under construction and newly built. The amount is 30.5% higher than a year ago.
At the current pace of sales, it would take 9 months to transact the entire inventory of properties in the low-priced segment and 13 months for apartments in the mid- and high-priced segments.
