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21.08.24 16:45

Economy

Brazilian property market breaks records for new property sales with 17.9% growth rate

A total of 93,743 properties were sold in the second quarter of 2024 in the 221 municipalities analysed

Between April and June this year, the Brazilian property market recorded a remarkable 17.9 per cent increase in sales of new properties, such as houses and flats.

According to Metropoles, a partner of TV BRICS, this growth is significantly higher than the same period last year, when sales rose by 8.5 per cent.

In the second quarter of 2024, a total of 93,743 housing units were sold in the 221 Brazilian municipalities analysed, a record high since the study began in 2016.

Brazil's "Minha Casa, Minha Vida" housing programme ("My House, My Life") also showed significant results, increasing the number of sales by 46 per cent.

A total of 39,332 units were sold under this programme, compared to 26,935 units sold in the second quarter of 2023, increasing Brazil's share of the real estate market from 34 per cent to 42 per cent.

Photo: iStock

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