Real estate investment funds: how the new market dynamics impact rents and dividends.

A Market dynamics impact rentals. and dividends in 2026, requiring a thorough technical analysis from those seeking profitability. The Brazilian macroeconomic scenario shows signs of transition, where the Selic rate cut redistributes the flow of capital.

For REIT investors, understanding structural changes in the real estate sector is essential to protecting their assets. Here we explore how vacancy rates and inflation shape new yields and the appreciation of shares.

Table of Contents

1. The new real estate cycle: Selic and IFIX in 2026.
2. How vacancy drives up rents.
3. The influence of indexers on dividends.
4. Key sectors in the current market.
5. Comparative Performance Table.
6. FAQ: Frequently Asked Questions.

How does the Selic rate affect the profitability of real estate investment trusts (REITs)?

The trajectory of monetary easing in 2026 is fueling the appreciation of real estate assets. With the Selic rate at low levels, the opportunity cost of fixed income decreases for the investor.

This movement generates a migration of liquidity that increases the value of the units, reducing the nominal yield, but increasing the capital. Market dynamics impact rentals. as companies seek operational expansion by taking advantage of lower interest rates.

This creates a favorable environment for reducing physical vacancy rates in key corporate hubs, such as Faria Lima. The impact on dividends is seen through the appreciation of new contracts and scheduled revisions within the fund.

Which sectors show the greatest potential for dividend growth?

The logistics sector continues to be the jewel of the market, maintaining vacancy rates at low levels, close to 8%. The scarcity of high-standard warehouses is generating upward pressure on rental prices for owners.

In this context, the Market dynamics impact rentals. In an aggressive manner, favoring strategic assets for national e-commerce. Meanwhile, shopping malls are demonstrating remarkable resilience with a constant increase in sales per square meter.

The percentage-based rental structure allows dividends to quickly capture improvements in Brazilian household consumption. Investing in dominant shopping malls is an effective strategy to take advantage of the economic recovery that began last year.

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Why do the IPCA and IGP-M indexers define your success?

The choice of index in contracts is a game-changer for income stability in 2026. Currently, we see a consolidated transition to the IPCA (Brazilian consumer price index), which faithfully reflects inflation and ensures predictability of cash flows.

The way this Market dynamics impact rentals. This is reflected in the annual readjustment windows of each contract. Contracts linked to the IPCA tend to maintain purchasing power, while the IGP-M shows greater overall volatility.

To analyze the income scenario, consult the IFIX performance report on B3which provides data on industry performance. This transparency helps in identifying funds that are performing above average.

Where does the offering of new assets create risks for the investor?

Investors should monitor the pipeline of new real estate deliveries projected for the 2026-2027 period. Oversupply in specific regions could reverse the current upward trend in rental prices.

A Market dynamics impact rentals. This is negatively affected when net absorption does not keep pace with the rate of construction. It is crucial to analyze the management report to identify the expiration schedule of each asset's contracts.

If the revenue expires during a period of high supply, the fund loses bargaining power in renegotiations with tenants. Geographic diversification is the best defense against localized downturns in specific market sectors.

Sustainability has become a pillar where... Market dynamics impact rentals. Through the valuation of assets with green and energy efficiency certifications. Properties that reduce operating costs for tenants attract longer contracts and allow for adjustments above the average in the real estate market.

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Sector Performance Comparison (2026)

Segment	Average Vacancy	Rental Trend	Yield Expectation
Logistics	8,5%	Royal High	9.5% to 10.5%
Slabs	16,0%	Stable	8.0% to 9.0%
Shopping malls	5,0%	High	9.0% to 10.2%

How important is active management in protecting income?

In a scenario where the Market dynamics impact rentals.In this context, the manager's role is crucial to success. Active management allows for the sale of appreciated assets to distribute extraordinary profits to the fund's shareholders.

This portfolio turnover is essential to renew the portfolio and keep the fund competitive against new launches.

Management focuses on improving the operational aspects of the properties, such as retrofits and the implementation of modern sustainability technologies.

Healthy dividends are the result of a combination of quality real estate and management that understands economic cycles.

Prioritize asset management firms with a proven track record of results and complete transparency in their communication with the market.

The analysis of financial leverage is another area where... Market dynamics impact rentals. and the final distribution to the shareholders.

Funds that raised debt linked to the CDI (Brazilian interbank deposit rate) in previous years are now benefiting from falling interest rates, freeing up more cash for dividends.

This reduction in financial expenses allows operating profit (FFO) to grow organically, even without immediate new adjustments. Investors should observe which asset managers are taking advantage of the cycle to prepay expensive debts and optimize their balance sheet.

Furthermore, the evolution of protective clauses in atypical contracts ensures that... Market dynamics impact rentals. with lower volatility.

These long-term contracts, common in operations of sale-leasebackThey offer extra security against fluctuations in commercial vacancy rates.

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Conclusion: The future of dividends in transformation.

The year 2026 marks the beginning of a new era for REITs (Real Estate Investment Trusts), characterized by maturity and professionalism in Brazil. We have seen how... Market dynamics impact rentals. in a heterogeneous way, rewarding quality and strategic location.

Falling interest rates open a window of opportunity for those seeking capital gains without sacrificing income. Protecting oneself through diversification is what distinguishes the successful investor from the average market speculator.

FAQ: Frequently Asked Questions

1. Is brick or paper a better option in 2026? With the Selic rate falling, real estate investment trusts (REITs) have greater potential for appreciation in their share prices in the long term.

2. What happens if inflation falls too low? In paper-based funds, the yield falls proportionally. In real estate, the impact is smaller due to the demand for the property.

3. How does financial vacancy affect your wallet? It reduces the cash flow available for distribution, decreasing the amount of the monthly dividend deposited into your account.