Contrary to the main inflation indices in Brazil, which have declined in recent months due to the reduction in fuel prices, the real estate market remains heated and residential rental prices reach the highest growth in more than a decade.
The FipeZap+ residential leasing index rose 1.30% in August and has already accumulated a high of 12.42% in the year and 15.31% in the last 12 months. It was the fifth consecutive month of increase above 1 percentage point, after even higher values in April (+1.84%), May (+1.70%), June (+1.58%) and July (+1, 37%).
With less than 4 months to go until the end of the year, the 12.42% inflation in rent prices already exceeds that of all the “full” years of the last decade. Since the beginning of the historical series of the indicator, in 2009, the strong rise only does not exceed the years 2010 (+18.56%) and 2011 (+17.30%).
In addition, since 2014 the indicator has not been above 5% in the year and during this period it was even negative (that is, there was deflation) for three consecutive years: 2015, 2016 and 2017 (see table below).
|residential rent (FipeZap+)||9.46%||18.56%||17.30%||10.58%||7.86%||2.83%||-3.34%||-3.23%||-0.69%||2.33%||4.93%||2.48%||3.87%||12.42%|
The rise in residential rental prices is so strong this year that it is almost triple the country’s official inflation index (IPCA rises 4.39% in the accumulated until August) and almost double the IGP-M (7.36 %). The indicator also surpasses the two indexes in the accumulated in 12 months (15.31%, against 8.73% and 8.59%).
Florianópolis leads highs
The FipeZAP+ residential leasing index is calculated monthly, based on data from 25 Brazilian cities, and Florianópolis leads the rise among the capitals, both in the year (+24.24%) and in 12 months (+31.85% ).
Goiânia and Fortaleza alternate in the top 3, with the capital of Goiás being in second place this year (+23.60%, against +21.39% of the capital of Ceará), but in third in the accumulated in 12 months (+25 .68% against +28.01%). But despite the strong increases, the two cities are among the cheapest capitals in the country. (see more below).
Curitiba and Belo Horizonte complete the top 5 with the highest increases, both in 2022 and in the annual comparison (+17.58% and +23.85% in the case of the capital of Paraná and +15.59% and +19.51% in the case of from mining).
In the two largest cities in the country, the growth in the price of residential rentals was 13.73% in the year and 16.36% in 12 months in Rio de Janeiro and 10.91% and 12.53% in São Paulo — numbers close to those verified by another rent index, QuintoAndar.
average rental price
FipeZap says that the average rental price of residential properties was R$ 35.37/m² in August in the 25 cities monitored. The highest average price was recorded in Barueri, in Greater São Paulo (R$ 46.65/m²) and the lowest, in Pelotas, in Rio Grande do Sul (R$ 15.50/m²).
If only the 11 capitals surveyed are considered, São Paulo has the highest average price (R$ 44.03/m²), followed by Recife (R$ 40.40/m²), Florianópolis (R$ 36.93/m²), Rio de Janeiro (R$ 36.44/m²) and Brasília (R$ 36.04/m²).
The capitals with the lowest residential lease values are Fortaleza (R$ 23.06/m²) and Goiânia (R$ 24.26/m²) – which are among the highest increases in the year and in 12 months -, in addition to of Porto Alegre (R$ 26.15/m²) and Curitiba (R$ 27.98/m²).