Two recent surveys reveal that almost 40% of people in Brazil would like to buy a home this year and what a Brazilian dream home looks like. Most would prefer a completely new home and at the top of their priorities are more space, leisure facilities and a quieter location. Over a quarter would be prepared to pay from R$500,000 to over R$1 million.
"Revealing scenario" for the Brazilian property market
The latest survey from the property portal, QuintoAndar, finds that 39% of Brazilians would like to buy a home in 2023. Furthermore, two-thirds of them prefer a new-build property as opposed to resale.
"The results show a revealing scenario for the Brazilian property market in 2023,” said Thiago Reis, Data Manager at QuintoAndar. He added that it reinforces their desire to change and find the home of their dreams.
A separate survey, carried out by DataHouse for QuintoAndar, asked Brazilians about their ideal property. As well as being new, the vast majority want a single-family home, with just 21% preferring an apartment.
More indoor and outdoor space
Unsurprisingly, Brazilians aspire to own a more spacious property inside and out. As a result, 45% would like at least three bedrooms and 68% a home office.
Almost three-quarters want their dream home to have a garden with a pool. Other desirable features outside include a BBQ area – a must-have for 80% - and a veranda or terrace.
Along with the desire for more space, the post-pandemic era has homeowners worldwide wanting to be out of the city. The Brazilians are no exception, although the majority (44%) would prefer their dream home to have an urban location. However, 34% would love it to be on the coast.
Price of a dream home
For most Brazilians, their dream home would cost less than R1 million. However, when asked how much they’d be prepared to pay, 26% have a budget between R$400,000 and over R$1 million.
In addition, Brazilian real estate represents a considerably cheaper buy compared to many countries. In particular, US buyers can tap into the strength of the dollar to buy more in Brazil. For example, a beachfront villa at The Coral costs from R$1.32 million, the equivalent of approximately US$272,750.
Reasons for moving
According to the survey, Brazilians value safety and tranquillity above all other factors. 30% claim their reason to move would be because the area has higher safety levels, and 23% would like to live in a quieter area.
However, space is also a fundamental factor. 24% say they’d like more outdoors in the form of a garden or terrace, and 19% would love more leisure facilities such as a BBQ area , childrens playground, or somewhere to hold a party. In terms of indoor space, 22% would prefer a more spacious home.
The survey also asked about features of no or little importance. 60% of Brazilians don’t mind if their dream home doesn’t have a lift. A similar figure aren't interested in a home cinema, and 57% don’t want a sauna.
How achievable is the Brazilian dream home?
Of course, the best dreams come true, so the DataHouse survey also invited Brazilians to say how close they are to realising their dream. The majority (53%) believe they'll need up to five years, while 26% think up to ten years is a more likely scenario.
Lack of financial resources is the main reason for the dream failing to materialise among survey participants, with 62% citing this explanation. Just 10% claim that being unable to find the right property is stopping their dream home purchase, and even fewer (8%) say they are not permitted to work from home or cannot relocate.