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Short-stay models make up half of the sector's total units. In 2025, this segment accounted for 331,000 m² or 6,200 units. As the name suggests, short stay refers to short-term rentals. According to Conviva Stay, this model generates US$1.2 billion annually in Brazil.

“After the pandemic, travelers have increasingly prioritized solutions that combine functionality and well-being. These features are no longer just appealing extras — they’re now part of a broader strategy for standing out in the market. Those who understand that hospitality starts with the details are ahead of the curve,” says Rafael Rossi, economist and owner-director of Conviva Stay.

While not the dominant format, mid-stay units represent 11.9% of the market — 64,900 m² or 992 units. This model refers to mid-length stays, usually between one and six months, positioning itself between the short and long-stay segments.

Long stay holds the second-largest market share in the multifamily sector, accounting for 27% of units. With 148,000 m² or 3,500 units, this model is similar to traditional rentals, typically with leases lasting over a year.

This market is expanding. Brio Investimentos, in partnership with Fictor, is currently structuring a real estate investment fund (FII) focused on multifamily developments. Together, they are investing R$250 million in apartment units located in downtown São Paulo.

Rodolfo Senra, founding partner at Brio Investimentos, explains that today’s multifamily focus is largely on the middle class. A number of factors have contributed to this, such as high-income households’ preference for buying property and the availability of housing assistance programs for lower-income groups — leaving a gap in the middle.

“Brazil’s fundamentals and macroeconomic volatility should help boost this thesis. High-income buyers remain capitalized and continue purchasing homes, while low-income households benefit from subsidized programs like Minha Casa Minha Vida. At the end of the day, it’s the middle class that is underserved. The combination of low savings, high financing costs, and rising prices results in reduced affordability. That’s why we’re offering rental housing targeted at this group,” says Senra.