Sales of 2- and 3-bedroom apartments in São Paulo up 120% in a year – AoCubo

RIO DE JANEIRO, BRAZIL – A little over a year after the pandemic began, the sales of larger and more spacious apartments, with between 2 and 3 bedrooms, increased 120% in the city of São Paulo, according to a survey conducted by AoCubo – a digital real estate company that converts the experience of buying and selling new apartments through technology.

The proptech analysis also found that the sale of studios and/or 1-bedroom apartments increased 60% in São Paulo between January and April, compared to the same period last year.

“We note a change in consumer behavior, people who needed to migrate to the home office now look for more spacious apartments, to accommodate the office and the work environment at home,” says CEO and co-founder Ronnie Sang Jr.

“On the other hand, it is also possible to observe that smaller apartments, studios, close to subways and shopping malls, still attract people interested in investing,” he adds.

One of the areas that most surprised specialists, the real estate market has dodged the global pandemic and has been posting positive numbers.

According to AoCubo, in the first quarter of the year alone, sales of mid and high-end apartments increased 37%, compared to the same period last year.

“It still makes sense to invest in real estate, particularly given the low interest rates. Projections for the rest of the year are positive,” says Ronnie.

“Our expectation for the second quarter is for even greater growth, because with the progress of the vaccination plan the market should reopen and many launches are expected to take place, which will attract customers even more,” concludes the executive.