Rents in Rio de Janeiro increased by 18% in one year

A survey by QuintoAndar Rent Index indica,tes that in one year the rent price in the city of Rio registered an increase of 17.94% in 12 consecutive months.

Some data from the survey:

• In the last 6 months (March to August), 21 out of 23 neighborhoods in Rio registered an increase in the price per square meter, representing 91% of the analyzed regions;
• Pechincha (-5.7%) and Grajaú (-0.5%) were the only neighborhoods that lost value in the last six months;
• In August, the capital recorded the 12th consecutive month of high prices;
  Compared to July, the peak was 1.02%, reaching an average value of R$ 34.71 per sqm; this is the highest value in the historical series of the indicator, which began in 2019;]
• This year alone, the average price for new leases.

The reason for this can be attributed to the rising prices of one- and two-bedroom apartments, especan amplen areas with a large supply of public transportation.

The largest increases (March to August):

• Lagoa (31.6%)
• Jardim Oceânico (26.1%)
• Vila Isabel (22.3%)
• Barra da Tijuca (16.4%)
• Laranjeiras (12,5%)

Most expensive neighborhoods

• Ipanema: R$ 61,60/m²
• Leblon: R$ 57,20/m²
• Jardim Oceânico: R$ 49,20/m²
• Flamengo: R$ 43,90/m²
• Lagoa: R$ 42,80/m².
• Botafogo: R$ 40,60/m².
• Barra da Tijuca: R$ 40,10/m².
• Copacabana: R$ 38,40/m².
• Laranjeiras: R$ 35,80/m².
• Santa Teresa: R$ 32,90/m².

NEGOTATION INCREASED

The survey also shows that the negotiation worked during the deal. The difference between the ad price and the contract price grew, reaching -9.47%.

“This means that ad prices continue to increase in line with market expectations, but the actual contracted value does not have the same amplitude. That means there is still room for negotiation and finding a value that fits the pocket,” says Thiago Reis.

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