Residential rents rose 1.76% in August, after rising 1.05% in July. 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 a high of 10.41%.
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 0.82% in July to an increase of 1.04% in August. In Rio de Janeiro, the index went from an increase of 0.39% to an expansion of 1.15% in the period; in Belo Horizonte, from an increase of 2.49% to an increase of 3.10%; and in Porto Alegre, from an increase of 1.07% to an increase of 2.63%.
In the 12-month period, rents increased 10.53% in São Paulo; 8.32% in Porto Alegre; 12.61% in Belo Horizonte; and 11.34% in Rio de Janeiro.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
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