By The Rio Times | Created at 2025-01-16 10:09:18 | Updated at 2025-01-31 06:44:50
2 weeks ago
Brazilian real estate developer Plano & Plano reported a 45.9% drop in Q4 2024 net sales to R$707 million ($117.8 million). The company disclosed this information in its recent operational preview.
Despite the quarterly setback, Plano & Plano’s full-year 2024 net sales grew by 10% to R$3.377 billion ($562.8 million). The company’s Gross Sales Value (VGV) for Q4 2024 fell 24.8% to R$1.276 billion ($212.7 million).
However, the annual VGV for 2024 increased by 16.1% to R$3.881 billion ($646.8 million). This growth indicates resilience in the face of market challenges. Plano & Plano’s average VGV showed improvement, rising 28.9% in Q4 2024 compared to the same period in 2023.
The full-year average VGV also increased by 8.4% to R$129 million ($21.5 million). These figures suggest a shift towards higher-value properties. The company‘s private market segment demonstrated significant growth.
Launches in this segment increased by R$965 million ($160.8 million) in 2024, representing a 40.5% year-over-year rise. The Q4 2024 growth was even more pronounced, with a R$718 million ($119.7 million) increase.
Plano & Plano’s Q4 2024 Sales Decline Amid Mixed Annual Performance. (Photo Internet reproduction)Plano & Plano’s Performance
Plano & Plano’s performance reflects the broader trends in the Brazilian real estate market. The sector faced economic headwinds in 2024, including fluctuating interest rates and inflation concerns.
However, government housing initiatives provided some support. The company’s ability to grow its full-year net sales and VGV demonstrates its strong market position.
Plano & Plano’s focus on the private market segment and successful launch strategy may position it well for future growth. Looking ahead, Plano & Plano will need to address the Q4 sales decline and navigate potentially volatile market conditions.
The company’s adaptation to evolving consumer preferences and market demands will be crucial. Brazil’s economic policies and interest rate environment will also play a significant role in shaping the real estate sector’s future.
