Luxury real estate market records growth of 300% last year in Sao Paulo

On October 4th we published here in Terapia do Luxo a story that highlighted the good moment of the high-end real estate segment in the city of Curitiba. A study found that in the capital of Pará, which has established itself as a destination for those seeking quality of life, the commercialization of luxury real estate grew by 70% between 2017 and 2018.

Now, information released by the São Paulo Housing Union shows that the number of luxury real estate has grown by 300% over the past year. According to the organization, among the explanations for this performance is the fact that, after the fear of investing due to the instability of the country, from the end of 2018 and beginning of 2019 real estate purchases started to happen again.

In addition to the surprising growth registered this year, the trend is that for 2020 the luxury real estate market will maintain growth in São Paulo

According to Fabio Panossian, CEO of Mapa Group, in a statement published on the SEGS portal, “There is a high inventory of lower priced commercial real estate in prime locations like Paulista Avenue, Itaim Bibi, Berrini and Alphaville. We are aware of population growth in these regions. Therefore, the outlook for the luxury real estate market is one of stability as a result of recent quarters and is a bit more optimistic towards the end of the year. ”

And the best news is that the numbers tend to be keep growing. According to the Brazilian Chamber of Construction Industry, the expectation for growth in sales of high standard real estate is 10% to 15% and, next year, the indexes should remain positive. “For 2020 the trend is to grow, along with the economy, lower interest rates and optimism can also contribute a lot” concludes Fábio Panossian.