With an already well-established market in the United States, Multifamily developments are gradually gaining traction in Brazil. This segment is characterized by residential buildings designed primarily for rental purposes, generating income for the managers. However, the appeal for residents goes far beyond what is typically offered by standard condominiums.

We are talking about "amenities," services provided by property managers that range from periodic cleaning, chef-prepared breakfasts, and laundry services to the inclusion of a car for tenant use, with the cost embedded in the rent, all personalized to meet the tenant's needs.

Additionally, Multifamily buildings often feature other perks such as fully furnished units, pet-friendly spaces, bike-sharing options, electric vehicle charging stations, coworking spaces, and comprehensive amenities like tennis and beach tennis courts, outdoor and rooftop pools, tech-equipped gyms, spas, meeting rooms, and modern systems that ensure greater sustainability in electricity use, water reuse, and ecological gardens, among others.

Developers such as JFL Realty, Brookfield, Cyrela, Luggo (part of the MRV group), SKR, Vitacon, Vila 11, and Greystar are increasingly investing in these types of developments. For example, Greystar plans to manage 10,000 new apartments and 40 Multifamily-style buildings in Brazil over the next ten years.

Founded in 1993, Greystar manages over 850,000 rental contracts across 17 different countries. The group operates more than $200 billion in real estate and is currently developing 3,600 units, with 2,100 already operational and under their management as part of the Ayra project. The Canadian pension fund CPPIB holds a stake in this project, with a total investment of R$ 1.7 billion.

In a recent interview with Bloomberg, Vitor Costa, Greystar Brasil's Country Manager, confirmed the company's intention to aggressively expand in the Brazilian Multifamily market.

"Our plan is to become the leading Multifamily company in the country across different income segments," Costa said.

In an interview with REsource, SiiLA's portal, Kim Azevedo, Greystar Brasil's Director of Investments, explained that the end consumer of this type of business needs to perceive the value of the product offered, which is about 15% to 20% more expensive than a typical rental.

Speaking of rent, the contracts for these properties are more flexible compared to those in the traditional real estate market. Instead of the usual 30-month duration, tenants can choose contracts for 3, 6, or 12 months.