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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Brazil — Live Market Board
-0.42%
171,339.91
-0.42%
72,006.05
+0.16%
10,607.20
+0.52%
2,848,945
—
2,481.88
-0.18%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 171,339.91 | -0.42% | +8.48% | 172,060.43 | 172,060 | 169,942 | — |
| USD/BRL | 5.64 | +1.11% | +7.10% | 5.58 | 5.65 | 5.58 | — |
| SELIC | 13.75% | — | — | — | — | — | |
| PETR4 | 44.54 | +2.27% | +37.68% | 43.55 | 44.72 | 43.23 | 21,537,400 |
| VALE3 | 64.44 | +0.02% | -1.99% | 64.43 | 64.44 | 62.93 | 12,776,800 |
| ITUB4 | 41.51 | -0.50% | +6.15% | 41.72 | 41.95 | 41.12 | 13,138,000 |
| BBDC4 | 14.17 | -1.12% | -27.06% | 14.33 | 14.33 | 13.92 | 39,146,300 |
| BBAS3 | 15.61 | -7.58% | -31.54% | 16.89 | 15.67 | 14.72 | 108,432,200 |
| B3SA3 | 14.75 | -0.34% | +4.46% | 14.80 | 14.90 | 14.47 | 21,303,200 |
| ABEV3 | 15.76 | -0.57% | +15.27% | 15.85 | 15.92 | 15.74 | 31,397,600 |
| WEGE3 | 51.33 | -0.54% | +14.35% | 51.61 | 52.04 | 51.21 | 2,770,400 |
| PRIO3 | 62.24 | +1.25% | +55.69% | 61.47 | 62.86 | 60.79 | 2,584,800 |
| SUZB3 | 54.64 | +1.56% | +13.69% | 53.80 | 55.68 | 53.75 | 3,915,600 |
| RENT3 | 29.33 | -3.01% | -31.89% | 30.24 | 30.42 | 29.25 | 4,455,100 |
| AZZA3 | 17.00 | +10.61% | -42.56% | 15.37 | 18.57 | 16.14 | 5,191,100 |
| CSNA3 | 4.29 | -5.09% | -50.86% | 4.52 | 4.48 | 4.22 | 12,070,000 |
| GGBR4 | 25.18 | -0.28% | +32.23% | 25.25 | 25.26 | 24.69 | 2,305,400 |
| ENEV3 | 26.56 | -2.99% | +37.97% | 27.38 | 27.11 | 26.53 | 5,154,800 |
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