Rents in São Paulo up quarterly for the first time since 2020

The rental housing market in São Paulo recorded an increase in the third quarter for the first time since 2020, highlighting the final recovery of the market after the fluctuations during the pandemic period.

Compared to the year’s second quarter, rental prices increased by 2% between July and September – up 16% compared to the same period in 2021.

The data comes from the QuintoAndar rent index and was released on Thursday, 13.

According to the indicator, the performance in the third quarter was characterized by the decline in housing prices.

In 2020, the year in which the Covid 19 pandemic had a more significant impact on the economy, a decline of 5.2% was recorded compared to the second quarter of the same year.

In 2021, when the market began to recover, prices stabilized somewhat, with a slight decrease of 1.1% compared to April, May, and June of the same year.

The figures still reinforce the scenario of warming the real estate market in the capital. In 12 months, the average value of the square meter increased by 16.9%.

This year alone, the average price of new rentals increased by 12.2%.

NEIGHBORHOODS AND RENT VARIATION

Água Fria 19.6%.

Vila Nova Conceicao 17.4%

Jaguaré 15.8%.

Real Parque 12.4%

Higienópolis 11.7%

Jardim Marajoara 11.7%

Vila Formosa 11.5%

Vila Carrão 11.0%

Morumbi 10.7%

Vila Madalena 8.9%

In September, the average rental price in the capital city of São Paulo reached R$41.01, increasing for the 13th consecutive month.

It is the highest square meter value in the indicator’s historical series, which began in 2019. It is also the most extended period of consecutive highs.

According to Thiago Reis, data manager of QuintoAndar, the general price increase has been reflected in the real estate market when demand increases.

Properties in areas with good access to public transportation and close to workplaces have increased the indicator in recent months.

In September, the value of one-bedroom (1.5%), two-bedroom (1%), and three-bedroom (1%) homes increased compared to August.

Consumers still have room for negotiation despite the price increase when signing the contract.

NEIGHBORHOODS AND RENT PRICE (R$/m2)

Vila Olímpia 72,8

Vila Nova Conceição 59,6

Pinheiros 59,5

Vila Madalena 53,8

Brooklin 53

Santo Amaro 52,9

Itaim Bibi 50

Moema 49

Real Parque 47,6

Consolação 45,9

QuintoAndar data show that the difference between the price of the ad and the contract has grown for the fourth consecutive month, reaching 10.1%.

The unpublished study “The Housing Market in Latin America” by QuintoAndar indicates that residents of São Paulo spend 31% of family income on rent.

The figure is very close to 30%, considering the limit experts recommended.