Average Residential Property Prices in Brazil Fell 1.7 Percent in the First Four Months

By Arkady Petrov

RIO DE JANEIRO, BRAZIL – From January to April 2019, the average price of property fell by 1.7 percent, according to FipeZap survey released on Tuesday (7th). The figure takes into account a 0.38 percent hike in prices – less than the 2.12 percent inflation expected for the same period.

The survey monitors real estate prices advertised in 50 cities in Brazil.

Among the capitals, four had increased above inflation in the first four months of the year: Brasília (3,72 percent), Manaus (3,7 percent), Goiânia (2,73 percent), and Florianópolis (2,66 percent).

Among the greatest price drops in the same period were João Pessoa (-5.91 percent), Curitiba (-2.62 percent), Campo Grande (-1.27 percent), and Recife (-1 percent).

Variations do not take inflation into account. The city with the highest price per square meter is still Rio de Janeiro, at R$9,476, followed by São Paulo, at R$8,899.

Over the course of 12 months, the average price of real estate rose 0.26 percent, below the inflation rate of 4.97 percent expected for the same period.

From March to April, there was a 0.14 percent hike, against expected inflation of 0.6 percent.