Sales of new residential real estate in Sao Paulo totaled 11,680 units in the first half of the year, which is a decrease of 31.3% in comparison with the same period last year, according to data released Tuesday by Secovi.
“The reduction in sales shows that prices have finally hit the roof,” said the organization’s president, Joao Crestana. The inflation growth and the consequent measures to contain credit also contributed to the climate of the housing market slowdown, according to Secovi.
Is the bubble finally popping, anyone?
Original article (in portuguese): “Venda de imóveis novos residenciais recua 31% no ano em SP”