New property sales boost Brazil’s São Paulo real estate sector
RIO DE JANEIRO, BRAZIL – Despite inflation on building materials in the first semester and a scenario of increased financing rates, developers and contractors have been celebrating the boost in the real estate market in São Paulo.
You,Inc projects 35.3% growth in the general sales value, an index that calculates the revenue potential generated by the sale of units in a development.
By the end of the year, the estimated overall sales value stands at R$1.2 billion (US$222 million) – with the launch of 9 projects. In 2019, the sales index stood at R$886.7 million – in a total of 5 developments launched.
Led by entrepreneur Abrão Muszkat – founder of ABC and Even real estate developers – You,Inc has focused on compact apartments for the upper-middle class, close to mobility axes and in regions of the expanded São Paulo downtown area.
More: Brazil news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
Living in or visiting São Paulo? See this month's events and our São Paulo city guide with rents, safety and upcoming concerts.