In the office sector, a high standard of building in São Paulo that cost $ 12,000 per square meter 18 months ago now worth 30% less, said the director of transactions Area real estate consultancy JLL, Roberto Patiño.
"The short-term outlook is still uncertain, but the foreign investor understands that the fundamental point of view, (the price of real estate in Brazil) are very cheap," he said.
The earnings outlook in this scenario - with prices low and the dollar high - and opera loan credit insurance tions in Brazil of important global industry groups such as Blackstone, GazitGlobe and Brookfield influence the entry of new foreign, added the director of JLL.
"There are several office projects that are coming on stream over the next 18 months. For those capitalized and want to look at projects, this is an excellent time to buy (assets) in development or ready," Patiño said.
Industry executives polled by Reuters believe that real estate prices as a whole may fall over the next 6 to 12 months, amid uncertainty about the course of the Brazilian economy.
Given this perspective, the Exxpon real estate develop loan credit insurance ment, investment consulting in the industry, is conducting negotiations for the purchase of new assets in Brazil for foreign investors in the coming months.
The firm, which has conducted about R $ 120 million operations over the last 12 months in sectors such as residential and street retail outlets, has a partner-investor US billionaire Neil Bluhm.
"We have a very high flow of business. We still negotiating with others (market participants)," said co-founder of Exxpon, Evaldo Lima. The list of assets that Exxpon negotiates includes warehouses, land and office buildings.
Written by Sergio
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