Data released by the São Paulo Housing Syndicate (SECOVI-SP) has demonstrated that rental requirements of new agreements have risen by 2.2 percent when comparing September to October – bring the total rise to 19.66 percent for the year up to this latter month. According to the organisation, this represents the largest rise within a one year period since the research started in January 2005.
A recent investigation led by the Foundation for the Development of Fortaleza Housing (Fundação de Desenvolvimento Habitacional de Fortaleza, Habitafor) has pointed to 660 buildings in the north-eastern city centre that are currently underused, 120 of which have strong potential for residential development.
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.
Regular readers will note that I have been increasingly pointing to the rise of Brazilian property auction activity in 2011 – it has recently been announced that a new proposal law being formulated is focused on streamlining the process of stock that has been taken back by the state lenders (namely Caixa Econômica Federal and the Banco do Brasil).
Statistics recently released by the FipeZap asking price index have shown a broad level of slower price rises that have characterised the Brazilian real estate market in recent years – increasing by 1.6 percent in October compared to 2.7 percent in April of 2011. The measurement analyses prices in six of the nation’s most prominent markets, namely: São Paulo, Rio de Janeiro, Belo Horizonte, Federal District, Salvador, Fortaleza and Recife.
One of the fastest growing real estate marketing franchises in Brazil – Century 21 – has recently announced its partnership with the Zukerman auction house with the aim of offering stock that has been foreclosed by banking institutions or seized by the law.
As demand for Brazilian housing credit continues to grow at an unprecedented pace, policy makers have become increasingly concerned about the depletion of wholesale funding accessibility and are currently actively exploring alternatives.
Recently updated statistics released by research organisation Ibope Intelligence has indicated that residential Brazilian real estate prices have shown some initial signs of moving away from the rapid growth that has characterised market behavior in recent years.
A survey of companies undertaken by the Brazilian Association of Construction Materials (Abramat) showed that the number that plan to invest in the next 12 months has decreased by 71 percent in October compared to 77 percent in September.
A new ´virtual outlet´ website – Promoimóveis – launched in Brazil 4 months ago promises to be able to offer Brazilian real estate at discounts of between 10 and 30 percent largely of distressed stock, initially in the Rio de Janeiro and São Paulo regions.
