Amazonas real estate market shows considerable growth in the third quarter

Manaus (AM) – The Amazonas real estate market presents an encouraging picture. In the third quarter of 2023, property sales and launches showed significant growth compared to the same period last year. The positive performance was announced, on Wednesday (8), by the Association of Companies in the Real Estate Market of Amazonas (Ademi-AM).

In the 3rd quarter of 2023, a total of 712 sales were of properties in the economic standard, while 649 were of other vertical standards, 369 were of horizontal units and 21 commercial units, totaling a General Sales Value (PSV) of R$511 million .

For the president of Ademi-AM, Henrique Medina, the expectation at the end of the year is to reach R$2 billion, placing Manaus as one of the most profitable capitals in Brazil.

“The expectations are very good. We have sold, so far, almost R$1.5 billion, which is almost what we sold throughout 2022. This shows the strength of our region, but it also shows that we have a very large capacity for growth. We are the fifth largest GDP among the capitals and only 20th in sales”, he highlighted.

According to the data, 77.7% of net sales were vertical residential units, 21.1% were horizontal units and 1.2% were commercial units, demonstrating the strength of the residential property market.

In the first nine months of 2023, sales of new properties reached the mark of almost R$1.5 billion, representing a significant increase of 25% compared to the same period of the previous year, when the market reached an amount of more of R$1.2 billion. These numbers highlight the constant growth of the real estate sector in the region and indicate a promising scenario for the future.

“There was a significant increase in sales of conventional products worth up to R$700,000, outside Minha Casa Minha Vida. As for the program, the expectations we had regarding the increase in sales of economic properties, starting in the third quarter, have not yet happened. The new conditions and benefits of the program only came into effect in August. But we have already realized that demand is expected to grow in the coming months,” said Medina.

As for launches, the third quarter of 2023 witnessed the launch of six vertical residential developments, totaling 1,366 units, of which 700 belong to the economic standard and 666 are of other standards. In addition, a horizontal residential development was launched, offering 176 units.

Comparatively, in 2022, 32 projects were launched, while in the first nine months of 2023, 18 projects were launched, including 13 vertical residential, two vertical commercial and three horizontal.

In the city of Manaus, it was possible to identify 99 vertical residential developments, with a total supply of 30,823 units. Of this total, 7,065 units are currently on sale, resulting in an availability of 22.9%.

In addition, the city is home to 14 horizontal developments, including six condominium lots, with an initial supply of 2,891 units and 570 available units. Additionally, 8 developments offer condominium homes, with 1,211 units in the initial offering and 390 units available.

The neighborhoods that stood out in the third quarter of 2023, representing together 75.8% of units sold, were Ponta Negra (with 371 sales), Tarumã (368 sales), Parque Mosaico (185 sales), Lago Azul (169 sales), Novo Aleixo (100 sales) and Colônia Terra Nova (85 sales).

The Amazonas real estate market continues to demonstrate resilience and growth, reflecting an optimistic scenario for investors and property buyers in the region.

*With information from consultancy

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