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Sequoia Properties prepares new projects for residential lease
06/11/2021
Asset manager Sequoia Properties is stepping up in Brazil's growing rental market. The group plans the development of 70 apartments destined for renting instead of a sale. The projects will be located on lavish avenues and streets in São Paulo, such as Oscar Freire, Rebouças and Pedroso de Morais.
Today, the group already has a portfolio of 200 apartments spread over the Consolação, Pinheiros and Berrini axes. Occupancy dropped due to the pandemic and is at 70%, a level below the company's historical average, which is above 85%. But the confidence is that more people seek the ease of renting a house – for short or long stays – without the need to pay a fortune to own the property.
Source: Estadão
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