Brazil followed a leap in rents with the rise in the economy’s basic interest rates and real estate financing rates.
In the 12 months to February, the asking price for new leases rose 17.05% on average in 25 Brazilian cities, according to the FipeZap+ Index, which tracks the average variation in the price of ready-to-rent apartments in 50 Brazilian cities, based on ads posted on the internet.
The Index registered a nominal advance of 5.66% in residential prices in the last 12 months ended in March 2023.
According to the survey, this is the highest increase in residential rental value accumulated in 12 months in more than 11 years.
In December 2011, the variation had been 17.30%.
The Index also registered a 0.42% increase in March 2023, after a 0.38% advance in the previous month.
In terms of geographical coverage, the monthly appreciation of real estate properties in the residential segment was observed in 42 of the 50 cities monitored by the FipeZAP+ Index, including 12 of the 16 capitals included in this list:
Manaus (+1.75%); Campo Grande (+1.69%); João Pessoa (+1.35%); Maceió (+1.30%); Goiânia (+1.22%); Salvador (+1.20%); Florianópolis (+1.20%); Belo Horizonte (+0.74%); Recife (+0.59%); Fortaleza (+0.44%); São Paulo (+0.43%); and Rio de Janeiro (+0.06%).
In contrast, there was a monthly retreat in residential property prices in Porto Alegre (-0.20%); BrasÃlia (-0.17%); Vitória (-0.15%); and Curitiba (-0.03%).
The average price calculated for the 50 cities monitored by the FipeZAP+ Index was R$8,400/m².
Among the 16 monitored capitals, São Paulo presented the highest average price per square meter last month (R$ 10,304/m²), followed by Vitória (R$ 10,223/m²), Florianópolis (R$ 9,907/m²), Rio de Janeiro (R$ 9,882/m²) and BrasÃlia (R$ 8,795/m²).
On the other hand, among the monitored capitals with lower average residential sales prices, it is possible to highlight the following locations:
Campo Grande (R$ 4,493/m²), João Pessoa (R$ 5,607/m²), Salvador (R$ 5,681/m²), Manaus (R$ 6,051/m²) and Goiânia (R$ 6,431/m²).
With information from Gazeta do Povo