Análise dos fundos imobiliários no Brasil nos anos de 2015 a 2022

Abstract

This work aims to verify which are the factors associated with the return of real estate investment funds (FIIs) in the Brazilian market in the period from 2015 to 2022. The relevance of this study lies in the possibility of understanding the origin of the profitability of the FIIs, considering their importance in the asset classes of investments of individuals and legal entities, as well as being an alternative investment that combines the characteristics of variable income and fixed income, which can be affected by various market factors, especially in the context of the COVID-19 pandemic, period covered by this work which seeks to explain its effects that brought challenges and opportunities for the real estate sector and the capital market. The methodology adopted was the regression analysis, using as dependent variable the Index of Real Estate Investment Funds (IFIX), and as independent variables: Real Estate Index (IMOB), Dividend Index (IDIV), IPCA and Selic Rate. The results obtained indicated that the IFIX presented results that can be significantly explained by the IDIV, notwithstanding the absence of relation with IMOB, IPCA and Selic.