The value of properties sold in Belo Horizonte had an average increase of 7.46% in the first six months of 2022, while the Selic rate was 5.49%. The average price reached BRL 522,028 this year, compared to BRL 485,809 in 2021. The numbers are from a survey carried out by Data Secovi, a research institute of the Chamber of the Real Estate Market and Union of Companies in the Real Estate Market of Minas Gerais (CMI/Secovi -MG), based on data from the first half of this year. Some BH neighborhoods have the most expensive square meters in Brazil.
According to the study, 2022 will be the second best year for the real estate market since 2014, even with the 18.5% reduction in turnover in the first half of 2022 compared to 2021: 12,471 properties were traded against 15,305 in the same period last year. Some neighborhoods in the capital of Minas Gerais have the most expensive square meters in Brazil.
Despite the drop in the volume of properties sold compared to last year, the sector celebrates the performance. “The year 2021 was unique in the history of the real estate market; sales hit records and there was hope that 2022 would be similar. This year, we had several particularities, such as low GDP expectations at the beginning of the year, war in Ukraine, maintenance of policy of increasing the Selic rate, with consequences for the value of real estate financing, global inflation and a polarized political scenario in an election year”, evaluates Leonardo Matos, director of CMI/Secovi-MG.
The survey also showed that the largest volume of sales continues to be apartments, with 9,255 units sold in the period and an average increase of 11.45% in prices. The commercial real estate segment was the one that presented the lowest performance, but still similar to 2022, “not performing as in the period before the pandemic”. 1,382 units were sold in the first half of 2022 compared to 1,328 in the same period of 2021, with an average price 13.09% lower than last year. In the period, 487 commercial rooms were sold, but with an average price 29.5% lower than last year. The sheds segment had a 33% reduction in business volume and an average of 12% in value.
Matos explains that the increase in the Selic has an impact on business, but he recalls that the rate rose from 2% to the current 13.75% per year in the last 16 months. However, in the same period, the real estate financing rate went from 7% to 9.5%, that is, a much more modest readjustment. “With good financial planning, it is possible to do good business in this scenario”, highlights Matos.