Residential rents were 0.59% more expensive in May, after rising 0.82% in April.
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 8.83%, the highest variation in the historical series started in January 2019.
The 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 an increase of 1.27% in April to a decrease of 0.26% in May.
In Rio de Janeiro, the index rose from 0.31% to expansion of 1.31% in the period; in Belo Horizonte, from a fall of 0.07% to a rise of 1.97%; and in Porto Alegre, from an increase of 0.82% to an increase of 0.87%.
In the 12-month period, rents increased 6.49% in São Paulo; 8.06% in Porto Alegre; 15.96% in Belo Horizonte; and 10.33% in Rio de Janeiro.
Source: CNN Brasil
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