Residential rents fell 0.36% in November, after rising 0.10% in October.
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 10.28%.
The IVAR was created to measure the monthly evolution of residential rent values ​​in the real estate market in Brazil, with information obtained directly from contracts signed between landlords and tenants through the intermediation of property management companies.
Until then, FGV had collected information from advertisements for residential properties for lease, and not the values ​​effectively negotiated.
As for the results of the four capitals that make up the FGV index, residential rent in São Paulo went from a drop of 0.69% in October to a drop of 0.32% in November.
In Rio de Janeiro, the index rose from 0.04% to 1.55% in the period; in Belo Horizonte, from expansion of 0.86% to a decrease of 1.21%; and in Porto Alegre, from an increase of 1.10% to a reduction of 1.13%.
Accumulated in 12 months, rents advanced 9.48% in São Paulo; 8.79% in Porto Alegre; 13.13% in Belo Horizonte; and 12.16% in Rio de Janeiro.
Source: CNN Brasil
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