February 8, 2023

Rental rates are the highest in 11 years

The average rental price of residential real estate in the country in 2022 increased almost three times higher than inflation last year (5.79%), according to the index FipeZap+.

How much has the rent gone up?

  • the Cumulative increase of 16.55% in 2022 This is the highest score obtained by the index since 2011 (17.30%).
  • All municipalities surveyed had the most expensive rents in 2022. In the 11 capital cities monitored, the increase outpaced the proportion official state inflationas measured by the IPCA.
  • In December last year, the average rental price was R$36.65 per square metre.

Research data has been collected by vibe (Fundação Instituto de Pesquisas Econômicas) Includes rental prices for residential properties (apartments only) in 25 Brazilian cities based on online advertisements.

What explains the increase and what can be expected for 2023

According to DataZap + economist Pedro Tenório, among the factors that explain the price hike are:

  • The heating of the labor market, from the resumption of activities in the covid-19 pandemic, and the passage of inflation to rent
  • Height is above average in cities like Curitiba (PR), Florianópolis (SC) and Goiânia (GO), which are experiencing a moment of real estate appreciation

For 2023, the rental price progression scenario is expected to be curbed, as inflation needs to be further contained.

In addition, both the GDP and the labor market should stabilize, which contributes to a calming of prices and a slowdown in the pace of market growth, in line with inflation.
Pedro Tenorio, DataZap+ Economist

The largest increases in rents are between capital cities

  1. Goiania (GO): 32.93%
  2. Florianópolis (SC): 30.56%
  3. Curitiba (PR): 24.47%
  4. Fortaleza (CE): 21.33%
  5. Belo Horizonte (MG): 20.01%
  6. Rio de Janeiro: 17.93%
  7. Recife (PE): 17.07%
  8. Salvador (BA): 16.56%
  9. Sao Paulo: 14.63%
  10. Porto Alegre (RS): 11.14%

The highest elevations are outside the capital cities

  1. Sao Jose (SC): 42.41%
  2. Barware (SP): 23.27%
  3. São José dos Campos (SP): 20.9%
  4. Campinas (SP): 19.68%
  5. Niteroi (RJ): 18.44%
  6. Ribeirao Preto (SP): 17.83%
  7. Sao Jose do Rio Preto (SP): 16.27%
  8. Praia Grande (SP): 16.12%
  9. Santo André (SP): 12.43%
  10. Santos (SP): 12%

Cities with the most expensive average rent per square meter (in Brazilian reals)

  1. Barware (SP): 50.56
  2. Sao Paulo: 45.50
  3. Recife (PE): 41.68
  4. Santos (SP): 38.96
  5. Florianópolis (SC): 38.81
  6. Rio de Janeiro: 37.78
  7. Brasilia (DF): 37.11.2020
  8. Sao Jose (SC): 34.72
  9. Sao Jose dos Campos (SP): 32.68
  10. Praia Grande (SP): 32.27