SÃO PAULO, BRAZIL - In an atypical year, considering the coronavirus pandemic, sales of new properties costing up to R$ 400,000 dropped 37 percent in São Paulo from February to April of this year, according to a survey conducted with 90 developers in the state by the digital real estate platform AoCubo.
Considering new properties costing more than R$ 400,000, the drop in sales over the same period mentioned was even greater: 58 percent.
According to the Brazilian Association of Real Estate Developers, the market expected exponential growth this year, due to the drop in interest rates . . .