Rent: price per m² stabilizes in SP and has a slight drop in RJ – Economy

You residential property rental contracts in the states of São Paulo and Rio de Janeiro began to give small relief to tenants in August.

The value of the square meter in contracts closed in São Paulo registered an increase of 0.03% in August compared to July, reaching the value of R$ 34.96/m².

In Rio de Janeiro, the agreements showed a fall for the third consecutive month, of 0.24%, reaching R$ 29.43/m². The accumulated result for the year is still positive at 1.13%.

The data are from the QuintoAndar index, which tracks data actually used in residential rental contracts in SP and RJ.

In the 12-month period, the indicator continues to fall by 3.35% in SP, being the 5th month in which the accumulated in the city of São Paulo becomes less and less negative and signals an increase of 4.32% in RJ, maintaining the resumption in the Rio de Janeiro capital.

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In August, the difference between the average price per square meter for rent in advertisements and closed contracts remained close to 15%, according to the indicator.

In Rio de Janeiro, the difference is a little smaller than in the previous month, with the value of 16.17%. In São Paulo, the difference is the largest in the historical series, at 14.98%.

In SP, Vila Olímpia leads the most expensive rental

In August, the list of the most expensive neighborhoods in the capital of São Paulo was like this:

1) Vila Olímpia (BRL 53/m²);
2) Real Parque (R$52.7/m²); and
3) Vila Nova Conceição (R$49.4/m²).

The neighborhoods that appreciated the most in the last six months were Jaguaré, Sacomã and Vl. Leopoldine.

The biggest price drops were registered in Liberdade, Chácara Inglesa and Vl. Formosa.

Properties with up to one bedroom had an increase in the price per square meter of 0.98% in August, compared to July.

In the same period, there was a drop of 0.68% in two-bedroom properties and an increase of 0.18% in three-bedroom properties.

M² in Jardim Oceânico, Lagoa e Recreio appreciated

In the capital of Rio de Janeiro, the highlights of more expensive rents were in:

1) Ipanema (R$48.3/m²);
2) Leblon (R$ 46.4/m²); and
3) Jardim Oceânico (R$ 40.0/m²).

The neighborhoods that appreciated the most were Jardim Oceânico, Lagoa and Recreio, and the ones that continue to decline are Botafogo, Grajaú and Vl. Isabel.

In terms of size, the rent price per square meter of one-bedroom properties will slightly drop in the price per square meter by 1.42% in August, compared to July.

The two rooms had a slight increase of 0.33%. Three-bedroom properties registered a slight increase of 0.27%.

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