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Prospects for Sao Paulo sales 2012 looking good
April 06, 2012
Based on sales of new residential units in São Paulo in the month of January, 2012 is set to surpass 2011 sales for Brazil’s. This is good news for the residential market, but still below expectations given the exceptional recorded sales in previous years, according to Secovi-SP, Brazil’s largest real estate union.
The sale of new residential units in the city of São Paulo grew 28.7% in January, compared to January of 2011. Looking at real numbers, 1,068 properties were sold this January; compared to 830 units in 2011. The 2012 sales account for R $ 504 million (approx. €205.5 million) compared to R $ 430.1 million (€176.1 million) for the same period in 2011.
Two-and three-bedroom units were the most popular, accounting for 82.6% of São Paulo’s total sales (43.7% and 38.9%, respectively). Two-bedroom units were the majority (62%) of unit types coming onto the market in January, which saw a total of 674 units released into the market, up 12.1% from January 2011.
The prospects for further growth are concentrated in the second half, more precisely in the last months of 2012. "The economy will likely heat up during this period, which traditionally moves around 65% of total sales per year," says Celso Petrucci, chief economist at Secovi-SP.