The escalation of inflation, which led to successive increases in the basic interest rate — with the Selic leaving the historic low of 2%, in March, to the current 9.25% — hit real estate financing hard.
+ Selic increase affects savings, real estate financing and FGTS
In October, financial institutions granted R$ 17.156 billion in real estate credit, down 3.9% compared to September, according to O Globo, which cites data from the Brazilian Association of Real Estate Credit and Savings Entities (Abecip). In the year, however, there is still an increase of 23.74%, reaching R$ 171.847 billion.
Financing with resources from the Employment Compensation Fund (FGTS), in turn, dropped by 14%, up to December 9, to R$ 44 billion, in the annual comparison.
Sales fell by 9.5%, to 58,941 units, in the third quarter compared to the same period in 2020, according to data from the Brazilian Chamber of Construction Industry (Cbic) cited by O Globo.
Data from the Brazilian Association of Real Estate Developers (Abrainc) show that the number of launches grew 13.6% in the same period.
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