Drops in São Paulo Real Estate Condominium Delinquencies
Despite growing concerns of the implications of a peaking Brazilian property market, recent condominium delinquency statistics in the country’s largest and wealthiest metropolitan region São Paulo have demonstrated a drop of 2.59 percent when comparing September to October 2011.
In 2006, 17,200 delinquency actions were initiated – a figure that fell to 15,900 in 2007, 13,100 in 2008 and 11,400 in 2009 – but subsequently rose by 3.5 percent in 2010. Hubert Gebara, director of the Grupo Hurbet property and condominium administration company that conducts the research stated to the Estadão newspaper: “this latest reduction confirms that the more comfortable position for condominiums in light of the success of the Brazilian economy.”
