Multifamily Asset Market Grows and Surpasses 10 thousand Units in Brazil Monitored by SiiLA Platform

Q3 2024 data shows a vacancy rate of 24% for multifamily assets inBrazil .

André Lucarelli, Senior Vice President at Brookfield

By: SiiLA News

11/05/2024

SiiLA’s latest insights into Brazil’s multifamily market reveal significant growth in Q3 2024, with the number of units rising to 10,400 nationwide. Alongside this expansion, the sector’s vacancy rate declined to 24.3%, reflecting a drop of 1.84 percentage points compared to the previous quarter.

Among monitored states—Rio Grande do Sul, Paraná, São Paulo, Minas Gerais, and Bahia—vacancy trends showed notable regional differences. Minas Gerais stood out as the only state to see an increase in vacant units, now at 57.7%, driven by the addition of the Luggo Buritis tower in Belo Horizonte’s Buritis neighborhood, which introduced 276 new units to the market.

São Paulo, which leads Brazil in multifamily inventory, ended the quarter with a vacancy rate of 21.1%, while Bahia reported a lower rate of 9.5%, as illustrated in the following chart.

Source: SiiLA

Read more: With an R$ 75 Million Investment and a Retrofit Approach, Vila 11 Launches Multifamily Project in São Paulo, Brazil

Other Highlights

Multifamily properties in Brazil, known locally as “residenciais para renda,” are primarily held by institutional investors and real estate investment funds (FIIs) seeking stable rental income. Rental rates currently average R$ 177.25 per square meter.

São Paulo commands the highest rental prices in the country, averaging R$ 191.85/m² as of the end of Q3, while Bahia offers the most affordable rates, averaging R$ 66.28/m².

Brookfield is the largest institutional owner in the sector, with 2,200 units representing 21.2% of all units tracked by SiiLA. Vila 11 follows with a 7.2% market share, and JFL Living ranks third with 5.8%.

Moreover, a significant portion of the multifamily market is held by multi-investors—smaller firms and individuals owning fewer units. Collectively, this group accounts for 4,500 units, or 43.7% of the total multifamily stock.

Fonte: SiiLA

SiiLA’s Market Analytics offers comprehensive, current data on Brazil’s multifamily landscape, including details on property developments, locations, infrastructure, amenities, and other critical factors. Subscribers gain access to an in-depth view to support strategic decision-making and spot new opportunities. Discover more about our platform and schedule a demo at contato@siila.com.br.

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