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Rental prices in SP and RJ reach the highest level since the beginning of the pandemic

The average rent price per square meter in São Paulo increased 1.55% in November compared to October, according to the QuintoAndar Rental Index released this Friday (3). In Rio de Janeiro, the increase was greater with a monthly variation of 2.13%. Both values ​​reached the highest level since the beginning of the pandemic.

The rent in São Paulo, according to the survey, is still recovering the losses recorded during the pandemic. It was the fifth consecutive month of discharge. In 12 months, the average value of the square meter rose 1.58%. However, the average value is still 7.8% below that registered in March 2020.

Meanwhile, in Rio de Janeiro, the result eliminates the losses recorded in the most drastic period of the Covid-19 pandemic, reaching R$ 30.67 per square meter.

The QuintoAndar Index also highlights the difference between the average price of the value of advertisements and contracts effectively closed, which loses strength for the first time after a four-month high. With 13.56% in the variation between contract and advertisement, the value represents 2 percentage points less compared to October.

In Rio de Janeiro, the scenario is repeated, with the smallest difference in the last four months: 13.28% variation, equivalent to 1.75 percentage points less. “This happens because the prices of advertisements are stable in Rio de Janeiro and have fallen again in São Paulo”, explains the economist at QuintoAndar, Monise Faria.

In São Paulo, neighborhoods such as Vila Olímpia, Pinheiros — considered commercial hubs in the city of São Paulo — are still far from recovery. On the other hand, regions such as Tatuapé and Mooca have already recovered the average price per square meter.

Among the highlights, the Vila Formosa neighborhood had a 19.7% appreciation in the last six months, and, from October to November alone, the increase was 2.7%, totaling the average price in the region at R$ 24.53 per square meter.

Two neighborhoods follow the list of positive variations: Belém and Ipiranga, which appreciated 18.7% and 16.8% in the last semester, respectively. As the most undervalued in the last semester, are Bom Retiro (-11.8%), Vila Carrão (-8.1%) and Vila Clementino (-8%).

In Rio de Janeiro, in the last six months, the biggest increase was seen in the Barra da Tijuca, Leblon and Jardim neighborhoods. Lagoa, Ipanema and Vila Isabel had the biggest retraction, according to QuintoAndar.

To reach this result, QuintoAndar considered “the prices actually used in closed contracts, more precise than the rental values”, in addition to showing the distance between the average prices of advertisements and those actually used in rentals.

Reference: CNN Brasil

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