Residential rents in Brazil increased by 16.55% in 2022, the highest level in 11 years

The value of rents had a historic high in 2022, rising 16.55%, the highest value in 11 years.

In 2011, the increase was 17.3%. The data are from the FipeZap+ survey, which checked the situation in 25 Brazilian cities.

In all of them, except Pelotas, in Rio Grande do Sul, there was an increase in rent above current inflation.

Still, there was an increase in the city, but below inflation, at 2.37%. In 2022, inflation rose 5.79%.

Among the other 24 cities analyzed, the largest increase was verified in Goiânia (GO), with 32.93%, followed by Florianópolis (SC), with 30.56%, and Curitiba, 24.47%.

Besides these three capitals, which registered the highest increases in the group, other cities also registered significant increases, the main one being São José (SC), with an increase of 42.41%; Barueri (SP), with 23.27%; and São José dos Campos (SP), 20.9%.

The research points out that the expressive increase was due to two main reasons: the heating up of the job market after the Covid-19 pandemic and the cities’ real estate valuation.

The average square meter price in the 25 cities analyzed was R$ 36.35, calculated in December 2022.

The year 2023 should have smaller increases, with brakes on the rise, with the impact of reduced inflation, as expected by the market.