The sales of older property (“usados”) in Sao Paulo fell 14.47% in August compared to July, according to a survey released by the Realtors Regional Council of São Paulo state (Creci-SP). In this same period, the average price of square meter went down by 2.51%. The survey gathered data from 451 real estate brokerages. The chairman of Creci-SP, Viana Jose Augusto Neto, this deceleration was expected and the overall slowdown observed now does not mean the market will close the year in the red.
In addition, the rental of houses and apartments fell 4.89% in August compared to July, according to Cresci-SP. According to the survey, rentals fell the most for four-bedroom apartments, for which average prices ​​sank 27% from R$6,666.67 to R$4,863.64.

Source: Estadao
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