The Brazilian real estate sector offers good opportunities for those who invest in stocks, even in an environment of still high interest rates. This is the assessment of Tiago Reis, founder of Suno. In an interview with Janela de Mercado, a NeoFeed program that gives voice to leading analysts and equity managers, he says that the market tends to generalize risks without considering the particularities of each company.
Real estate developers focused on the "Minha Casa, Minha Vida" (My House, My Life) program, for example, are, according to him, experiencing a particularly positive period, with consistent growth and good cash flow. However, companies focused on medium and high-income properties face a more challenging scenario, affected by the cost of credit, which slows sales. Even so, Reis emphasizes that there is no crisis situation, especially in markets like São Paulo, where demand remains strong.
The shopping mall segment, in turn, appears as one of the most resilient within the real estate sector on the stock exchange. After the impact of the pandemic, consumption returned strongly, dismantling the thesis that the growth of e-commerce would deplete these assets. "Several of these stocks are trading near their historical highs," says Reis, noting that the result reflects robust operational performance and well-located assets.
In comparison to real estate investment trusts (REITs), the founder of Suno argues that stocks offer more direct exposure to the sector's growth. While REITs tend to concentrate on mature assets and attract investors focused on monthly income, listed companies end up leading real estate development and better capturing expansion cycles.
For investors willing to deal with volatility in exchange for potential appreciation, real estate stocks remain, according to Reis, the most attractive option. Check out the video for three stocks he recommends for your portfolio this year.
