Sequoia Properties prepares new projects for residential lease
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
