Rent in the cities of São Paulo and Rio registers high for the 12th consecutive month

The square meter in the city of São Paulo reached an average of R$ 40.58. It is the highest value since the survey of the startup Quinto Andar began in 2019.

Only in the month of August, when the capital of São Paulo registered the 12th consecutive month of high prices, the growth was 0.9% in comparison with July. In 12 months, the average value per square meter rose 16.1%. This year, the advance was 11.03%.

Data from the QuintoAndar de Aluguel index show that, in the last six months, three out of four of the regions analyzed registered an increase in the price of the square meter, the equivalent of 46 neighborhoods.

Água Fria (19.7%), Bom Retiro (19.5%), Pinheiros (13.6%), Jardim Marajoara (12.6%) and Ipiranga (12.2%) were the five neighborhoods with the highest increase in price.

According to Thiago Reis, QuintoAndar’s data manager, the increase occurs mainly in properties located in regions with easy access to public transport and close to where there are more job offers.

“The increase in prices in São Paulo is spread throughout the city, but the increase is greater in regions with greater public transport options, such as subway lines. This stems from the need for people to return to live close to work, with the cooling of the pandemic”, highlighted Reis.

91% of the analyzed regions in Rio had a price increase

In Rio de Janeiro the situation is similar. Despite being smaller than in São Paulo, the square meter in the state capital also reached the highest value in the historical series, of R$ 34.71.

In August, the capital also recorded the 12th consecutive month of rising prices. In comparison with the previous month, the increase was 1.02%. In 12 months, the average value per square meter rose 18%. This year, the increase was 12.29%.

Data from the rental platform show that the appreciation was felt in practically the entire city, equivalent to 91% of the analyzed regions.

Only the neighborhoods Pechincha (-5.7%) and Grajaú (-0.5%) registered a drop in prices in the last six months ended in August.

On the other hand, Lagoa (31.6%), Jardim Oceânico (26.1%), Vila Isabel (22.3%), Barra da Tijuca (16.4%) and Laranjeiras (12.5%) were the five fastest growing neighborhoods.

According to the finance specialist at Insper, Ricardo Rocha, the rise in rent prices is related to the recovery of the economy.

However, this does not mean that the tenant cannot bargain for a lower value.

Data from Quinto Andar show that the difference between the price of the advertisement and the contract was -9.47%.

“This means that ad prices continue to rise, given the positive expectations of the market, but that the amount actually paid has not registered a movement of the same magnitude. In other words, there is still room to bargain and get the best price”, reinforced Thiago Reis.