Residential rents fell 1.19% in December, after having dropped 0.36% in November. 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 2022, the index accumulated an increase of 8.25%.
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 amounts effectively negotiated.
As for the results of the four capitals that make up the FGV index, residential rent in São Paulo went from a fall of 0.32% in November to a decline of 1.06% in December.
In Rio de Janeiro, the index went from high of 1.55% to a reduction of 2.41% in the period; in Belo Horizonte, from a decrease of 1.21% to a decrease of 0.46%; and in Porto Alegre, from a reduction of 1.13% to a drop of 1.09%.
In 2022, rents rose 7.80% in São Paulo; 7.15% in Porto Alegre; 11.31% in Belo Horizonte; and 8.34% in Rio de Janeiro.
Source: CNN Brasil
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