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Brazil’s housing market seen recovering in 2019
14 May

Strong sales in 2018 as well as a positive economic outlook for this year indicate that Brazil’s housing market may be on the path to recovery in 2019.

The rebound is also boosted by mortgage lending, which jumped last year due to low interest rates and heightened consumer sentiment. 

Nominal house prices increased for the first time since July 2017, with Brazil’s FIPEZAP house price index climbing slightly by 0.07% in the year ending February 2019. 

During the year to February 2019, houses in Sao Paulo, Brazil’s largest real estate market, were up by a median of 2.02%. 

Real estate agents as well as experts from related fields expect the housing market to perform positively in 2019. 

Ricardo Bezerra, an estate agent from Lopes Immobilis said: “Our expectations are very positive for the Brazilian property market as a whole.”

Now that any doubt surrounding domestic elections has been silenced, a new chapter for the real estate market is on the horizon, said Eduardo Fischer Teixeira de Souza, MRV president of Engenharia. 

In an interview with local newspaper O Estado de S. Paulo, Fischer Teizeira de Souza said: “In this sector, we must always try to anticipate the next three years. Even in 2014, when unemployment was low, it was already apparent that there would be difficult years ahead, but 2019 should be better for the real estate market. The worst of the crisis seems to have passed and the demand for housing is high.”

Elsewhere, the President of the Brazilian Association of Real Estate Loans and Savings Companies (ABECIP) Gilberto Duarte de Abreu Filho noted that: “Construction GDP is negative but recovering. The indicators are far from the peak, but many return to the levels before the market boom, which is a sign of improvement.”

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