Brazil: Housing · Published Saturday 14 November 2026
Brazilian house hunters are still browsing, but fewer are ready to sign. Only 35% plan to buy within three months, down from 38% in the previous quarter, according to the 3rd quarter 2026 Raio-X FipeZAP survey.
Raio-X FipeZAP is a quarterly survey of property-portal users by Fipe, an economic research institute, and Grupo OLX, an online marketplace group that owns the ZAP Imóveis and Viva Real property portals. Buyers who do close deals are winning bigger discounts than a year ago, and more of the survey’s respondents call prices high.
Key Facts
—Buying plans. 35% of surveyed home hunters plan to buy within three months, down from 38% last quarter.
—Discounts. 67% of purchases in the 12 months to September closed below asking price; the average cut was 13%.
—Prices. 73% call homes expensive or very expensive, up from 67% a year earlier.
—Investors. 52% of recent buyers call their purchase an investment, the highest share in the survey’s history.
—Power Index. Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 74.2 points (November 2026 edition).
Fewer buyers are ready to sign. Sellers are giving bigger discounts, the survey shows.
Why It Matters
The survey does not say why fewer people plan to buy, but it lands beside costly credit. Brazil’s central bank, the Banco Central do Brasil, held its benchmark interest rate, the Selic, at 13.75% on 4 November 2026, and our explainer on rates and debt shows how that feeds into borrowing costs.
The survey gives no single reason for the drop. It does show that 73% of respondents now call homes expensive or very expensive, up from 67% a year earlier.
More deals now involve a negotiated price. Of purchases identified in the 12 months to September 2026, 67% closed below the asking price, against a historic average of 64%.
In deals that had a discount, the average cut was 13%, up from 11%. Across all deals it averaged 9%, up from 7%.
Who Is Buying and What They Expect
Investors are a notable part of the picture. Of recent buyers, 52% called the purchase an investment, the highest share in the survey’s history, and 76% of them seek rental income while 24% plan to resell.
Among those still planning to buy, 88% want a home to live in and 12% an investment. Used homes were 61% of recent purchases and new homes 39%.
Respondents expect prices to rise an average 1.9% in nominal terms over 12 months, down from 2.5% a year earlier. Nominal means not adjusted for inflation, and these are expectations, not forecasts.
What to Watch
The central bank’s rate committee, Copom, is scheduled to meet on Wednesday 9 December 2026, according to the central bank’s calendar. Its decision on the Selic will be the next signal on borrowing costs.
What Is Not Known
The survey does not show that prices are falling across the board, and a discount on the asking price does not by itself mean a property has lost value. A bigger discount therefore says more about bargaining than about prices.
The survey covers 758 users of the two portals, interviewed from 5 October to 3 November 2026, so it is not a census of all Brazilian buyers, and the investor figure comes from the roughly 9% of respondents who recently bought, a small group. The price figures are respondents’ expectations, not forecasts, and the date of the next edition is not confirmed.
What It Means for You
For a US investor, the survey is one more gauge of how Brazilian home hunters feel while rates stay high. It offers no view on any stock or fund.
For a foreigner thinking of buying in Brazil, sellers are bargaining more often and by wider margins. A 13% average cut in deals that had one is an average, not a promise for any single property.
Readers following the policy side can turn to our report on Brazil’s housing budget. Inflation data, which feed the central bank’s rate choices, are in our latest inflation report, and more is on our Brazil page.
In Plain English
Selic. Brazil’s benchmark interest rate, set by the central bank. It stood at 13.75% at the last meeting.
Copom. The central bank committee that sets the Selic. Its next meeting is scheduled for Wednesday 9 December 2026.
Asking price. The price a seller lists before bargaining. A discount is the gap between that and the final price.
Nominal. A figure not adjusted for inflation. The survey’s price expectations are nominal.
Frequently Asked Questions
How many Brazilians plan to buy a home?
In the 3rd quarter 2026 Raio-X FipeZAP, 35% of respondents planned to buy within three months, down from 38% in the 2nd quarter. The historic average is 38%.
Are buyers getting bigger discounts?
Yes. Of purchases identified in the 12 months to September 2026, 67% closed below the asking price, and the average discount in those deals was 13%.
Why are fewer people planning to buy?
The survey gives no single reason. It does show that 73% of respondents call homes expensive or very expensive, up from 67% a year earlier, while the Selic stands at 13.75%.
Sources
Raio-X FipeZAP, 3rd quarter 2026 (Fipe and Grupo OLX) · the central bank, Selic and Copom calendar
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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