Pre-owned properties lead more than 70% of SBPE finance in 2026

Second-hand properties have secured a significant share among Brazilians using property finance. More than 70% of transactions completed through the Brazilian Savings and Loans System (SBPE) in the first half of 2026 were for the purchase of pre-owned homes, according to figures released by the Brazilian Association of Property Credit and Savings Entities (ABECIP).

Over the period, SBPE lending for property purchases totalled R$ 67.2 billion, up 12% on the same period a year earlier. Around 130,000 new and pre-owned homes were financed. However, the dominance of existing homes does not necessarily mean that new properties are no longer in demand. The decision also depends on price, location, floor area, move-in timescales and the costs expected after purchase.

According to Murilo Arjona, a property finance specialist, the preference cannot be attributed solely to the asking price. “A pre-owned property will often provide a more central location, greater floor area and room for negotiation. In some cases, the buyer can also find a furnished home that is ready to move into, without having to wait for construction to be completed,” he says.

Why have pre-owned properties become more popular?

New developments include the costs of land, construction, equipment, leisure facilities and newer security and technology solutions. In established neighbourhoods, where plots are less readily available, new developments may also offer smaller homes or carry higher prices.

A pre-owned property, on the other hand, may enable a buyer to live closer to work, schools, shops and public transport. Depending on the building and when it was constructed, it may also be possible to find larger layouts within the same budget.

Immediate availability is particularly important for people paying rent or needing to relocate quickly. Once the loan has been approved and the contract signed and registered, the buyer does not need to wait for building work to progress.

The bank valuation can alter the plan

The price agreed by the buyer and seller is not automatically the figure used by the lender. The bank carries out its own valuation to establish the property’s worth and the amount it can lend. If the valuation falls below the agreed price, the available credit may be lower than the buyer anticipated. In that event, they will need to provide a larger deposit, renegotiate the price or pursue another option.

Documentation can also affect whether the funds are released. Issues on the property register, unregistered extensions, discrepancies in floor area and matters involving the sellers may delay or prevent the transaction. For that reason, an initial income approval does not complete the assessment. The buyer must also consider whether the chosen property satisfies the lender’s legal, physical and financial requirements.

What changes when buying a new property?

For homes under construction, part of the price is usually paid directly to the developer before handover. The remaining balance can then be settled or financed later, in line with the terms set out in the contract. During this period, contractual adjustments may change the instalment amounts and outstanding balance. Furthermore, when finance is approved close to key handover, the lender considers the buyer’s income, financial commitments and the credit conditions available at that time.

Buyers should review the construction timetable, the rules for price adjustments, the anticipated completion date and what will happen if future finance is not approved for the expected amount. In return, a new home generally requires fewer immediate works and may have more up-to-date installations. Even so, the budget must account for finishing work, lighting, fitted cupboards, appliances and moving costs.

Can a furnished property offer savings?

In the market for pre-owned homes, the option to negotiate furniture and equipment can influence the decision. Fitted cupboards, air-conditioning units, household appliances and other items can reduce the spending required after completion. This arrangement must be clearly recorded. The contract should specify which belongings will remain in the property, preventing disputes when the keys are handed over. Photographs and a detailed inventory can also help document the agreed terms.

The condition of the home deserves equal scrutiny. Electrical and plumbing systems, lifts, façades, roofs and communal areas may need maintenance. A property that appears cheaper at first may result in substantial costs after moving in.

“The buyer should calculate the deposit, the instalment, documentation costs, any refurbishment and the service charge together. A seemingly cheaper pre-owned property may require investment after purchase, whereas a well-maintained furnished home may deliver savings and allow a faster move,” explains Murilo Arjona.

The asking price is not the full cost

Comparing sale prices alone can lead to the wrong choice. In addition to the deposit and instalments, a purchase involves valuation fees, taxes, registration, insurance, moving costs and potential alterations. The service charge must also be assessed. Older buildings may offer larger homes and a prime location, but can have high outgoings or future building works. New developments, meanwhile, may provide extensive services and leisure facilities that raise the monthly cost.

The choice between a new and pre-owned property depends on each buyer’s routine, available timescale and financial capacity. The fact that more than 70% of SBPE finance involved pre-owned homes demonstrates the strength of this market, but it does not make one category the best choice for everyone. The safest comparison takes account of the amount approved by the bank, the funds needed for the deposit, subsequent expenses and how well the property suits everyday life. It is this overall calculation, rather than the age of the building alone, that shows which option fits the plan.

By Eluan Carlos H. Bürger