The CNCSP business expectations indicator placed real estate at 51.29 points in September, the highest among surveyed sectors and above the 50-point threshold that marks optimistic territory. Perceived recent demand also improved to 51 points.
Supply continues to expand
At the start of October, Marena announced the simultaneous start of two new towers, Costa and Duna, adding 210 apartments. The developer also said the project had surpassed 500 units sold. This is a concrete execution signal, but it relates to one development and does not by itself represent the entire market.
Radar view
The combination of positive expectations and new supply requires moving beyond a broad growth narrative toward absorption metrics. Presales, sales velocity, vacancy, effective rents, price per square metre and stock by area are the variables that distinguish real depth of demand.
What to watch next: whether improved expectations persist, how financing conditions evolve and whether new projects maintain consistent sales after launch. An active market can create opportunities while also increasing competition among projects.
Source: CNCSP — Business Expectations Indicator, October 2, 2026