Residential Property Prices In Brazil Up 7.73% in 2024, Highest Rise Since 2013
The Fipe/Zap survey reveals a significant surge in Brazilian residential property prices. Homebuyers faced a 7.73% increase in 2024 compared to 2023, marking the highest rise since 2013.
This uptick surpassed the average price variation in the economy, as measured by the IGP-M/FGV at 6.54%. The property price hike also outpaced consumer inflation.
Consumer inflation stood at 4.64%, based on IPCA results up to November 2024 and the IPCA-15 for December 2024. One-bedroom properties experienced the most substantial relative increase, with a cumulative variation of 8.71% over the year.
Among the 22 monitored state capitals, Curitiba led the pack with an 18% increase. Salvador followed closely with a 16.38% rise, while João Pessoa saw a 15.54% jump.
Aracaju and Belo Horizonte rounded out the top five with increases of 13.79% and 12.53%, respectively. The FipeZAP Index, based on residential property sale listings in December 2024, calculated an average price of R$ 9,366 per square meter.
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This figure encompasses data from 56 Brazilian cities, providing a comprehensive view of the national real estate market. One-bedroom properties topped the list of most appreciated categories, growing by 8.71% in 2024.
Three-bedroom units followed with an 8.08% increase, while two-bedroom properties saw a 7.16% rise. Four or more bedroom homes experienced the smallest, yet still significant, increase of 6.24%.
This trend reflects a robust real estate market, potentially driven by factors such as low interest rates and changing housing preferences. However, it also raises questions about affordability and the long-term sustainability of such rapid price growth in the Brazilian property market.
Residential Property Prices In Brazil Up 7.73% in 2024, Highest Rise Since 2013
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Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
-0.27%
183,476.86
-0.27%
64,992.23
+1.13%
11,256.80
-0.38%
2,893,751
-1.57%
2,584.72
-0.95%
59,934.37
+1.27%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 183,476.86 | -0.27% | +21.85% | 183,965.91 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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