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New residential rents in São Paulo rise above inflation after 3 years

The price of new residential renting contracts in the city of São Paulo rose 9.32% in the last 12 months, accumulated until October, according to the monthly survey by Secovi-SP (Sindicato das Empresas de Compra, Venda e Administração de Imóveis).

It was the first time in three years that the accumulated percentage in 12 months exceeded the IGP-M (General Price Index - Market), an index known as "rental inflation" for readjusting real estate contracts.

In the same period (between Nov. 2021 and Oct. 2022), the IGP-M rose 6.52%.

The price of residential rents . . .

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