Developers are getting more selective on land acquisition

The land market remains heated and with elevated costs. Still, developers focused on medium and high rents are less aggressive in relation to the prices they are willing to pay for the raw material for real estate projects in São Paulo. The combination of high land prices and the intense pressure of raw material costs in recent months has led companies to further assess the maximum price, by area, that does not affect the projects' viability.

Considering the time required to obtain project licenses, developers usually buy land to launch one year later.

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