Value of Commercial Buildings in Mato Grosso Grows Beyond 40%

Mato Grosso, Brazil: The value of the Eldorado Hill Office, Caixa Construções‘ commercial building, has increased to almost 80% shortly before the delivery of the building.

Ahead of countries like Hong Kong and Turkey, in regards to real estate value, Brazil has been considered the country with the greatest increase in the value of real estate in 2012, according to the North American real estate consultancy Knight Frank. The study considered the third trimester of 2012 and registered a high of 15.2% in relation to the same time in the previous year. Some Brazilian states have even reached higher than this appreciation average. Mato Grosso is one of these states, which, according to the director of Secovi-MT (Housing Union of Mato Grosso), Guido Grando Junior, has shown in its market appreciations of approximately 15% to 30%, since the time of the launch until the post-delivery sale.

With constant launches and the growing search for commercial properties, it can be seen that, even more than in residential properties, there is a deficit in the commercial real estate sector in the capital of the state. “Considering that Cuiabá went without any commercial launches for a long time, that there is a continuous natural growth in the services sector and that there is a need for the implementation of companies from the interior of the state in the capital, with a demand even from multinational companies, we understand that the demand for commercial properties will continue to increase, even more than for residential properties”, reveals Grando.

Also, according to the director of the union, the appreciation of commercial properties in some cases has gone above the mark of 40%. At Caixa Construções commercial building, Eldorado Hill Office, the value on the blueprint in relation to the short time before the delivery of the building, appreciated 78%.

The relationship manager of the construction company, Adriano Sirugi, believes that location, the kind of material utilized and the workmanship of the building contributed to such a high increase in the price. “Some clients sold their units after we handed over the building, and the values appreciated about 97%,” he reveals.

The entrepreneur Rogério Souza Barbosa, owner of one of the rooms in Eldorado Hill Office, has already noticed the appreciation of the building, especially due to location. “When you get to see a completed building it is the materialization of a good investment. Even though you get to see the blue-print, descriptions and images beforehand, it is very different upon delivery. Apart from that, the final result surprised me, it’s a lot better than I imagined, especially the workmanship”, he reiterates.

Eldorado Hill Office was launched two years ago and all of the units have already been sold. There are more than six thousand m² of built up area. The rooms are 40 to 131m². There are three elevators in the building, for only eight floors, making it easier for condo owners and visitors to transit through the building, there are also up to two parking spaces and the lobby was delivered fully furnished and decorated.

This press release has been issued by Caixa Construcoes (Mato Grosso).