Brazil high-end real estate faces inventory glut as sales lag launches

Secovi-SP data shows a 'crocodile mouth' divergence in Brazil's high-end property market from early 2025, with launches outpacing sales of units priced above R$2.1 million. This signals weakening demand in a segment previously seen as a developer lifeline, potentially pressuring pricing and developer margins. The trend is sector-specific but may reflect broader economic softness in Brazil's upper-income bracket.