Residential rents dropped 0.31% in June, after rising 0.59% in May.
The data are from the Residential Rent Variation Index (Ivar), released by the Brazilian Institute of Economics of the Getulio Vargas Foundation (Ibre/FGV).
In 12 months, the index accumulated an increase of 8.05%.
Ivar was created to measure the monthly evolution of residential rental values in the real estate market in Brazil, with information obtained directly from contracts signed between landlords and tenants under the intermediation of property management companies.
Until then, FGV collected information from advertisements of residential properties for rent, and not the values actually negotiated.
As for the results of the four capitals that make up the FGV index, residential rent in São Paulo went from a decrease of 0.26% in May to an increase of 0.86% in June.
In Rio de Janeiro, the index rose from 1.31% to a drop of 0.26% in the period; in Belo Horizonte, from an increase of 1.97% to a reduction of 4.12%; and in Porto Alegre, from an increase of 0.87% to a decrease of 0.27%.
In the 12-month period, rents increased by 8.23% in São Paulo; 6.29% in Porto Alegre; 7.89% in Belo Horizonte; and 10.43% in Rio de Janeiro.
Source: CNN Brasil
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