The average price per square meter of two bedroom apartments in Sao Paulo fell R$ 440 in the first quarter of this year compared to the same period last year.

According to Celso Petrucci, chief economist at Secovi-SP, these are the “lowest prices seen in the last few years.” Petrucci admitted that he hasn’t seen yet such a drop in housing prices. For him, the data represent a balance between the law of supply and demand.

“What we are seeing is a market adjustment and prices stabilizing.”

Source: Agora

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