According to the latest FipeZAP Residential Sales Index, which tracks Brazil residential real estate prices in the country’s twenty biggest cities, prices in Brazil’sresidential sales sector remained relatively stable in June showing a nominal decrease of -0.06 percent.
According to FipeZAP, six of the twenty cities surveyed showed increases in June: Distrito Federal (0.37 percent), Goiâna (0.31 percent), São Paulo (0.21 percent), Santo André (0.18 percent), Recife (0.16 percent), and Contagem (0.01 percent).
However, none of the cities that closed June positively were able to outpace the IPCA/IBGE inflation rate.
Of the fourteen cities that showed declines in residential sale prices from May to June, the biggest drops were seen in Niteroi (-0.66 percent), Salvador (-0.55 percent), Campinas (-0.46 percent), and Rio de Janeiro (-0.42 percent).
As usual, Rio de Janeiro registered the highest average residential real estate sale prices in the country. In June, the Cidade Maravilhosa had an average listing price of R$9,556 per square
Of the twenty cities surveyed, the cities with the lowest average residential sale listings were Vila Velha at R$4,708, Goiânia at R$4,134, and Contagem at R$3,498 per square meter.
The FipeZap Index monitors real estate sale prices across twenty Brazilian cities and is a monthly gauge of real estate prices. It is prepared jointly by the university research center, Fipe (Economic Research Institute Foundation) and the Brazilian online real estate platform, Zap Properties.