{"id":5081,"date":"2024-05-23T14:56:56","date_gmt":"2024-05-23T17:56:56","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/mercado-imobiliario-quais-subsegmentos-de-real-estate-estao-mais-aquecidos-no-brasil\/"},"modified":"2026-09-30T08:49:01","modified_gmt":"2026-09-30T11:49:01","slug":"mercado-imobiliario-quais-subsegmentos-de-real-estate-estao-mais-aquecidos-no-brasil","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/mercado-imobiliario-quais-subsegmentos-de-real-estate-estao-mais-aquecidos-no-brasil\/","title":{"rendered":"Real Estate Market: Which Real Estate Subsegments Are Hottest in Brazil?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A pandemia trouxe consigo uma mudan\u00e7a significativa nos h\u00e1bitos de consumo, afetando diretamente o mercado imobili\u00e1rio. Com o isolamento social, os consumidores se afastaram dos shoppings e lojas f\u00edsicas, optando por realizar suas compras atrav\u00e9s do e-commerce.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Essa transforma\u00e7\u00e3o n\u00e3o s\u00f3 impactou a din\u00e2mica de consumo, como tamb\u00e9m redirecionou os investimentos no setor imobili\u00e1rio e seus respectivos subsegmentos. Entretanto, de 2023 at\u00e9 ent\u00e3o, ofertas p\u00fablicas de fundos imobili\u00e1rios e transa\u00e7\u00f5es de M&#038;A em real estate apontam o aquecimento nos setores de shoppings, agroneg\u00f3cio e galp\u00f5es log\u00edsticos.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Na p\u00edlula de hoje, entenda as tend\u00eancias no setor de real estate e os segmentos que est\u00e3o mais aquecidos.<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 8px;white-space:nowrap}\n.pil-unit{font-size:12px;font-style:italic;color:#999;font-weight:700}\n.pil-src{font-size:11px;color:#777;margin-top:14px;line-height:1.5}\n.pil-p{font-size:14px;line-height:1.6;margin:0 0 12px}\n.pil-note{display:flex;gap:12px;align-items:center;background:var(--pale);border:1.5px dashed var(--navy);border-radius:10px;padding:12px 16px;font-size:14px;line-height:1.55;margin-top:18px}\n.pil-note::before{content:\"\";flex:none;width:26px;height:26px;border-radius:50%;background:var(--navy) url(\"data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 24 24' fill='none' stroke='white' stroke-width='1.8' stroke-linecap='round'%3E%3Cpath d='M9 18h6M10 21h4M12 3a6 6 0 0 0-3.5 10.9c.6.5 1 1.2 1 2.1h5c0-.9.4-1.6 1-2.1A6 6 0 0 0 12 3z'\/%3E%3C\/svg%3E\") center\/16px no-repeat}\n.pil-note.solid{border-style:solid;background:#fff;box-shadow:0 2px 6px rgba(0,0,0,.12)}\n.pil-note.solid::before{display:none}\n.pil-grid2{display:grid;grid-template-columns:1fr 1fr;gap:24px}\n.pil-grid2.wide-left{grid-template-columns:1.75fr 1fr}\n.pil-grid2.wide-right{grid-template-columns:1fr 1.75fr}\n.pil-grid3{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}\n.pil-grid4{display:grid;grid-template-columns:repeat(4,1fr);gap:16px}\n.pil-grid5{display:grid;grid-template-columns:repeat(5,1fr);gap:12px}\n.pil-grid2>*,.pil-grid3>*,.pil-grid4>*,.pil-grid5>*{min-width:0}\n.pil-legend{font-size:12px;display:flex;gap:14px;justify-content:flex-end;flex-wrap:wrap;margin-bottom:6px}\n.pil-legend span{display:inline-flex;align-items:center;gap:6px}\n.pil-legend i:empty{width:14px;height:10px;display:inline-block;flex:none}\n\/* grafico de colunas: .pil-bars > div[style=height:%] > span (valor); .pil-years > span *\/\n.pil-bars{display:flex;align-items:flex-end;gap:2.2%;height:240px;border-bottom:1.5px solid #333;padding:22px 1% 0}\n.pil-bars>div{flex:1;background:var(--light);position:relative;min-height:1px}\n.pil-bars>div.e{background:var(--blue)}\n.pil-bars>div.cur{background:var(--navy)}\n.pil-bars>div>span{position:absolute;top:-19px;left:50%;transform:translateX(-50%);font-size:12px;white-space:nowrap}\n.pil-years{display:flex;gap:2.2%;padding:4px 1% 0;font-size:11px;text-align:center}\n.pil-years span{flex:1}\n.pil-cagr{text-align:center;font-size:12px;font-weight:700}\n.pil-cagr span{display:inline-block;border:1.5px solid #222;border-radius:50%;padding:2px 8px;margin-top:4px}\n\/* barras horizontais: .pil-hbars > .r > (b nome) (.bar > i[style=width:%]) (em valor) *\/\n.pil-hbars{display:grid;gap:8px;font-size:13px}\n.pil-hbars .r{display:grid;grid-template-columns:minmax(90px,30%) 1fr auto;gap:10px;align-items:center}\n.pil-hbars .bar{background:var(--pale);height:18px}\n.pil-hbars .bar i{display:block;height:100%;background:var(--blue)}\n.pil-hbars em{font-style:normal;font-weight:700;color:var(--navy);min-width:48px;text-align:right}\n\/* cartoes de numeros *\/\n.pil-box{border:2px solid var(--navy);border-radius:0 0 10px 10px;background:#fff}\n.pil-box>h3{margin:0;background:var(--navy);color:#fff;font-size:14px;text-align:center;padding:8px}\n.pil-stat{text-align:center;padding:16px 14px;font-size:13px;line-height:1.45}\n.pil-stat strong{display:block;font-size:40px;color:var(--blue);font-weight:800;line-height:1.1}\n.pil-stat strong small{font-size:22px}\n.pil-stat em{font-style:normal;color:var(--blue);font-weight:700}\n.pil-card{background:#fff;border-radius:12px;box-shadow:0 1px 5px rgba(0,0,0,.14);padding:14px 16px;font-size:13px;line-height:1.5}\n.pil-card h3{font-size:15px;color:var(--navy);margin:0 0 8px}\n.pil-card.tint{background:var(--card);box-shadow:none}\n\/* listas e fatos *\/\n.pil-list{margin:0;padding-left:18px;font-size:14px;line-height:1.6}\n.pil-list li{margin-bottom:6px}\n.pil-fact{font-size:14px;line-height:1.5;padding-left:14px;border-left:3px solid var(--light)}\n.pil-fact.dark{border-color:var(--navy)}\n.pil-fact b{color:var(--navy)}\n.pil-fact big{font-size:20px;font-weight:800;color:var(--navy)}\n.pil-hl{color:var(--blue);font-weight:700}\n\/* tabela *\/\n.pil-tw{overflow-x:auto}\n.pil-table{width:100%;border-collapse:collapse;font-size:13px}\n.pil-table th{background:var(--navy);color:#fff;text-align:left;padding:8px 10px;font-weight:700}\n.pil-table td{padding:7px 10px;border-bottom:1px solid #d8dce4;vertical-align:top}\n.pil-table tr:nth-child(even) td{background:#f5f6f9}\n.pil-table .n{text-align:right;font-variant-numeric:tabular-nums;white-space:nowrap}\n\/* linha do tempo *\/\n.pil-time{display:grid;gap:14px;border-left:2px dashed var(--light);padding-left:18px;margin-left:6px}\n.pil-time>div{position:relative;font-size:14px;line-height:1.5}\n.pil-time>div::before{content:\"\";position:absolute;left:-25px;top:5px;width:12px;height:12px;border-radius:50%;background:var(--navy)}\n.pil-time b.y{display:block;color:var(--light);font-size:16px;font-weight:800}\n\/* figuras (recortes do slide) *\/\n.pil-fig{margin:0}\n.pil-fig figcaption{text-align:center;font-weight:800;color:var(--light);font-size:16px;margin-top:4px}\n.pil-brand{background:var(--card);border-radius:14px;overflow:hidden}\n.pil-brand p{margin:0;text-align:center;font-size:20px;font-weight:800;font-style:italic;color:var(--navy);padding:10px 0 12px}\n@media (max-width:700px){\n  .pil-grid2,.pil-grid2.wide-left,.pil-grid2.wide-right{grid-template-columns:1fr}\n  .pil-grid3,.pil-grid4,.pil-grid5{grid-template-columns:1fr 1fr}\n  .pil-sec h2{font-size:17px}\n  .pil-bars{height:180px}\n  .pil-bars>div>span{font-size:10px}\n  .pil-years{font-size:9px}\n}\n@media (max-width:480px){\n  .pil-bars{gap:1.2%}\n  .pil-years{gap:1.2%;font-size:8px}\n  .pil-bars>div>span{font-size:8px;letter-spacing:-.3px}\n  .pil-bars:has(>div:nth-child(13))>div>span{writing-mode:vertical-rl;transform:translateX(-50%) rotate(180deg);top:auto;bottom:100%;padding-bottom:2px}\n  .pil-years:has(>span:nth-child(13)) span{writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto}\n}\n\r\n<\/style>\n<div class=\"pil\">\n\n<section class=\"pil-sec\">\n  <h2>Segmentos como shoppings, agroneg\u00f3cio e galp\u00f5es log\u00edsticos v\u00eam recebendo mais investimentos<\/h2>\n  <div class=\"pil-sub\"><span>Capta\u00e7\u00e3o de fundos imobili\u00e1rios: IPOs e Follow-ons<\/span><\/div>\n  <div style=\"display:flex;justify-content:space-between;align-items:flex-start;flex-wrap:wrap;gap:8px;margin-bottom:10px\">\n    <span class=\"pil-unit\">R$ MM<\/span>\n    <span class=\"pil-legend\" style=\"margin:0\"><span><i style=\"background:#e0e0e0;border:1.5px solid #aaa;border-radius:8px;width:22px\"><\/i><span><span>Oferta total em <i>real estate<\/i> (R$ MM)<\/span><\/span><\/span><span><i style=\"background:#fff;border:1px solid #333\"><\/i><span><span>% da oferta total em <i>real estate<\/i><\/span><\/span><\/span><span><i style=\"background:var(--blue)\"><\/i><span>Shoppings<\/span><\/span><span><i style=\"background:var(--light)\"><\/i><span>Agroneg\u00f3cio<\/span><\/span><span><i style=\"background:var(--card)\"><\/i><span>Galp\u00f5es log\u00edsticos<\/span><\/span><\/span>\n  <\/div>\n  <div class=\"pil-grid3\" style=\"gap:10px\" role=\"img\" aria-label=\"Capta\u00e7\u00e3o de fundos imobili\u00e1rios, em R$ milh\u00f5es (shoppings, agroneg\u00f3cio e galp\u00f5es log\u00edsticos, com o percentual da oferta total em real estate): 2019 total 14.255 \u2013 1.581 (11%), 500 (4%), 2.656 (19%); 2020 total 37.651 \u2013 696 (2%), 750 (2%), 7.591 (20%); 2021 total 39.108 \u2013 1.075 (3%), 4.100 (10%), 5.710 (15%); 2022 total 26.355 \u2013 599 (2%), 4.974 (19%), 1.106 (4%); 2023 total 35.149 \u2013 3.342 (10%), 6.332 (18%), 3.947 (11%); YTD total 22.006 \u2013 4.661 (21%), 897 (4%), 2.304 (10%)\">\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2019<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">14.255<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:20.8%;background:var(--blue)\"><span>1.581<\/span><\/div><div style=\"height:6.6%;background:var(--light)\"><span>500<\/span><\/div><div style=\"height:35%;background:var(--card)\"><span>2.656<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">11%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">4%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">19%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2020<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">37.651<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:9.2%;background:var(--blue)\"><span>696<\/span><\/div><div style=\"height:9.9%;background:var(--light)\"><span>750<\/span><\/div><div style=\"height:100%;background:var(--card)\"><span>7.591<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">2%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">2%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">20%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2021<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">39.108<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:14.2%;background:var(--blue)\"><span>1.075<\/span><\/div><div style=\"height:54%;background:var(--light)\"><span>4.100<\/span><\/div><div style=\"height:75.2%;background:var(--card)\"><span>5.710<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">3%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">10%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">15%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2022<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">26.355<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:7.9%;background:var(--blue)\"><span>599<\/span><\/div><div style=\"height:65.5%;background:var(--light)\"><span>4.974<\/span><\/div><div style=\"height:14.6%;background:var(--card)\"><span>1.106<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">2%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">19%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">4%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2023<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">35.149<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:44%;background:var(--blue)\"><span>3.342<\/span><\/div><div style=\"height:83.4%;background:var(--light)\"><span>6.332<\/span><\/div><div style=\"height:52%;background:var(--card)\"><span>3.947<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">10%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">18%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">11%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">YTD<sup>(1)<\/sup><\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">22.006<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:61.4%;background:var(--blue)\"><span>4.661<\/span><\/div><div style=\"height:11.8%;background:var(--light)\"><span>897<\/span><\/div><div style=\"height:30.4%;background:var(--card)\"><span>2.304<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">21%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">4%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">10%<\/span><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">(1) YTD &#8211; <i>Year To Date<\/i> representa a soma em 2024 at\u00e9 o presente<br>Fonte: B3, An\u00e1lise \u00c1rtica<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Em M&amp;A, estes mesmos segmentos se destacaram com maior n\u00famero de transa\u00e7\u00f5es<\/h2>\n  <div class=\"pil-sub\"><span>Transa\u00e7\u00f5es mapeadas<\/span><\/div>\n  <div style=\"display:flex;justify-content:space-between;align-items:flex-start;flex-wrap:wrap;gap:8px;margin-bottom:10px\">\n    <span class=\"pil-unit\">#<\/span>\n    <span class=\"pil-legend\" style=\"margin:0\"><span><i style=\"background:#e0e0e0;border:1.5px solid #aaa;border-radius:8px;width:22px\"><\/i><span><span>Transa\u00e7\u00f5es mapeadas em <i>real estate<\/i><\/span><\/span><\/span><span><i style=\"background:#fff;border:1px solid #333\"><\/i><span><span>% das transa\u00e7\u00f5es em <i>real estate<\/i><\/span><\/span><\/span><span><i style=\"background:var(--blue)\"><\/i><span>Shoppings<\/span><\/span><span><i style=\"background:var(--light)\"><\/i><span>Agroneg\u00f3cio<\/span><\/span><span><i style=\"background:var(--card)\"><\/i><span>Galp\u00f5es log\u00edsticos<\/span><\/span><\/span>\n  <\/div>\n  <div class=\"pil-grid4\" style=\"gap:10px\" role=\"img\" aria-label=\"Transa\u00e7\u00f5es de M&amp;A mapeadas (shoppings, agroneg\u00f3cio e galp\u00f5es log\u00edsticos, com o percentual das transa\u00e7\u00f5es em real estate): 2021 total 59 \u2013 11 (19%), 8 (14%), 5 (8%); 2022 total 57 \u2013 1 (2%), 4 (7%), 5 (9%); 2023 total 105 \u2013 15 (14%), 6 (6%), 37 (35%); YTD total 52 \u2013 13 (25%), 1 (2%), 14 (27%)\">\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2021<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">59<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:29.7%;background:var(--blue)\"><span>11<\/span><\/div><div style=\"height:21.6%;background:var(--light)\"><span>8<\/span><\/div><div style=\"height:13.5%;background:var(--card)\"><span>5<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">19%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">14%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">8%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2022<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">57<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:2.7%;background:var(--blue)\"><span>1<\/span><\/div><div style=\"height:10.8%;background:var(--light)\"><span>4<\/span><\/div><div style=\"height:13.5%;background:var(--card)\"><span>5<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">2%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">7%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">9%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">2023<\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">105<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:40.5%;background:var(--blue)\"><span>15<\/span><\/div><div style=\"height:16.2%;background:var(--light)\"><span>6<\/span><\/div><div style=\"height:100%;background:var(--card)\"><span>37<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">14%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">6%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">35%<\/span><\/div><\/div>\n    <div class=\"pil-card\" style=\"padding:10px 8px\"><p style=\"text-align:center;font-weight:700;margin:0\">YTD<sup>(1)<\/sup><\/p><p style=\"text-align:center;margin:4px 0 6px\"><span style=\"display:inline-block;background:#e0e0e0;border:1.5px solid #aaa;border-radius:14px;padding:2px 14px;font-size:13px\">52<\/span><\/p><div class=\"pil-bars\" style=\"height:150px;gap:4%\"><div style=\"height:35.1%;background:var(--blue)\"><span>13<\/span><\/div><div style=\"height:2.7%;background:var(--light)\"><span>1<\/span><\/div><div style=\"height:37.8%;background:var(--card)\"><span>14<\/span><\/div><\/div><div class=\"pil-years\" style=\"gap:4%;font-weight:700;font-size:12px\"><span style=\"background:var(--blue);color:#fff;border:1px solid #888\">25%<\/span><span style=\"background:var(--light);color:#fff;border:1px solid #888\">2%<\/span><span style=\"background:var(--card);color:#222;border:1px solid #888\">27%<\/span><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">(1) YTD &#8211; <i>Year To Date<\/i> representa a soma em 2024 at\u00e9 o presente<br>Fonte: An\u00e1lise \u00c1rtica; <i>Clippings<\/i>.<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Crescimento do e-commerce e tend\u00eancias de log\u00edstica estimulam o mercado de galp\u00f5es<\/h2>\n  <div class=\"pil-sub\"><span>Galp\u00f5es log\u00edsticos: motivos da desacelera\u00e7\u00e3o p\u00f3s pandemia e retomada em 2023<\/span><\/div>\n  <div style=\"display:grid;gap:10px\">\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--navy);color:#fff;text-align:center;line-height:24px;margin-right:6px\">1<\/b><b>Crescimento e-commerce:<\/b> influ\u00eancia direta da pandemia no varejo online e demanda por opera\u00e7\u00f5es <i>omnichannel<\/i><\/span><\/div>\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--blue);color:#fff;text-align:center;line-height:24px;margin-right:6px\">2<\/b><b>Baixa elasticidade:<\/b> possibilidade de firmar contratos locat\u00edcios de longo prazo e est\u00e1veis (baixa imprevisibilidade)<\/span><\/div>\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--light);color:#fff;text-align:center;line-height:24px;margin-right:6px\">3<\/b><b>Profissionaliza\u00e7\u00e3o do mercado log\u00edstico:<\/b> demanda por log\u00edstica eficiente diante do crescimento da ind\u00fastria<\/span><\/div>\n  <\/div>\n  <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5081-galpoes.png\" alt=\"Gr\u00e1fico trimestral de 1Q21 a 4Q23, em milh\u00f5es de m\u00b2 acumulados ano a ano: absor\u00e7\u00e3o l\u00edquida e novos estoques entregues sobem at\u00e9 2,0 e 2,4 no 4Q22 e fecham o 4Q23 em 1,7 e 1,6; a vac\u00e2ncia cai de 12,6% no 1Q21 para 10,3% no 4Q23, com os destaques \u201cVac\u00e2ncia em baixa recorde\u201d e \u201cAbsor\u00e7\u00e3o completa de novos estoques\u201d\" loading=\"lazy\" style=\"margin-top:16px\">\n  <div class=\"pil-src\">(1) Absor\u00e7\u00e3o l\u00edquida = \u00c1reas locadas (sem considerar renova\u00e7\u00e3o ou troca de inquilino) \u2013 \u00c1reas devolvidas<br>Fonte: An\u00e1lise \u00c1rtica; Cushman &amp; Wakefield; Genial; <i>Clippings<\/i><\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Retomada do consumo e oportunidades de mercado impulsionam o investimento em shoppings<\/h2>\n  <div class=\"pil-sub\"><span>Shoppings: motivos da desacelera\u00e7\u00e3o durante a pandemia e retomada em 2023<\/span><\/div>\n  <div style=\"display:grid;gap:10px\">\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--navy);color:#fff;text-align:center;line-height:24px;margin-right:6px\">1<\/b><b>Oportunidades:<\/b> setor \u00e9 fragmentado, com mais de 200 administradores individuais, havendo espa\u00e7o para sinergias<\/span><\/div>\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--blue);color:#fff;text-align:center;line-height:24px;margin-right:6px\">2<\/b><b>Desinvestimentos de grandes grupos:<\/b> preocupa\u00e7\u00e3o de consolidadores do setor com melhor aloca\u00e7\u00e3o de capital<\/span><\/div>\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--light);color:#fff;text-align:center;line-height:24px;margin-right:6px\">3<\/b><b>Queda de juros:<\/b> aumento no consumo impulsiona tr\u00e1fego de visitantes em shoppings (ainda menor do que 2020)<\/span><\/div>\n  <\/div>\n  <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5081-shoppings.png\" alt=\"Gr\u00e1fico de 2018 a 2024: quantidade de shoppings 584, 595, 602, 620, 628, 639 e 657 previstos em 2024; visitantes mensais (milh\u00f5es) 490, 502, 341, 397, 443 e 462; inaugura\u00e7\u00f5es de shoppings 14, 11, 7, 18, 8, 11 e 18 previstas em 2024\" loading=\"lazy\" style=\"margin-top:16px\">\n  <div class=\"pil-src\">(1) \u00c9 considerado o planejamento da inaugura\u00e7\u00e3o de 18 novos shoppings em 2024.<br>Fonte: An\u00e1lise \u00c1rtica; ABRASCE; <i>Clippings<\/i><\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>No agroneg\u00f3cio, pre\u00e7o e produ\u00e7\u00e3o est\u00e3o em alta e o investimento vem sendo facilitado com Fiagros<\/h2>\n  <div class=\"pil-sub\"><span>Agroneg\u00f3cio: motivos da ascens\u00e3o desde a pandemia<\/span><\/div>\n  <div style=\"display:grid;gap:10px\">\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--navy);color:#fff;text-align:center;line-height:24px;margin-right:6px\">1<\/b><b>Investimento privado:<\/b> com a cria\u00e7\u00e3o dos Fiagros<sup>(1)<\/sup> em mar\u00e7o de 2021, o investimento no agroneg\u00f3cio foi facilitado<\/span><\/div>\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--blue);color:#fff;text-align:center;line-height:24px;margin-right:6px\">2<\/b><b>Tecnologia:<\/b> <i>agtechs<\/i><sup>(2)<\/sup> ainda s\u00e3o incipientes e oportunidades tecnol\u00f3gicas a partir de IA est\u00e3o em desenvolvimento<\/span><\/div>\n    <div class=\"pil-note solid\" style=\"margin-top:0\"><span><b style=\"display:inline-block;width:24px;height:24px;border-radius:50%;background:var(--light);color:#fff;text-align:center;line-height:24px;margin-right:6px\">3<\/b><b>Exporta\u00e7\u00e3o e c\u00e2mbio:<\/b> Aumento no pre\u00e7o das commodities desde 2021 impulsionou lucros e atraiu investimento local<\/span><\/div>\n  <\/div>\n  <img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/5081-agro.png\" alt=\"Gr\u00e1fico de linhas do \u00edndice de pre\u00e7o em d\u00f3lar (jan-20 = 100) de jan-20 a jan-24 para carnes e oleaginosas, gr\u00e3os e outros alimentos; os picos s\u00e3o 173 e 169 em meados de 2022\" loading=\"lazy\" style=\"margin-top:16px\">\n  <div class=\"pil-src\">(1) Leia mais sobre <u>o que s\u00e3o Fiagros<\/u> no blog do \u00c1rtica (2) <i>Startups<\/i> do setor de agroneg\u00f3cio<br>Fonte: An\u00e1lise \u00c1rtica; <i>World Bank; Clippings<\/i>.<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>The pandemic brought with it a significant shift in consumer habits, directly impacting the real estate market. With social distancing, consumers stayed away from shopping malls and physical stores, opting to make their purchases through e-commerce.<\/p>","protected":false},"author":1,"featured_media":5075,"template":"","meta":[],"class_list":["post-5081","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/5075"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}