By Jay Forte, Contributing Reporter
RIO DE JANEIRO, BRAZIL - The FipeZap Index, which tracks the values of new leasing contracts in nine cities across Brazil was started in 2008, just as the country and especially Rio de Janeiro started to see wild growth in real estate value and rental rates. Now the index is showing a record monthly decrease in actual rent prices.
A report in April 2012 by Capital Economics, detailed how residential property prices in São Paulo had doubled within five years, while prices in Rio had tripled. Since then they have continued to climb with prices . . .