Real estate prices in Brazil rise 6.1% in the first half, according to the FIPEZAP Index
In June, the average price of the square meter in Brazil is of R$ 6.824 (US$ 3.045,07); Rio de Janeiro was the city with the highest rise in prices
SAO PAULO, July 3, 2013 /PRNewswire/ — The prices of real estate in Brazil have risen 1.1% in the month of June, with an accumulated rise of 6.1% in 2013. This is the result shown by FIPEZAP, the main indicator of the Brazilian real estate market, which assesses the behavior of prices in 16 regions of the country.
The real estate appreciation rate in Brazil in twelve years was of 11.6%. The index is developed by FIPE (the Institute of Economic Research Foundation, linked to the School of Business Administration and Accounting of the University of Sao Paulo), in partnership with the ZAP Imoveis web portal, which provides the database – more than 300 thousand advertised properties – for calculating the square meter prices of the properties sold in 16 Brazilian regions.
In the state of Rio de Janeiro, for example, real estate prices, in June, had an increase of 1.4%, a variation higher than the expected official inflation rate. In 2013, the accumulated variation of the square meter was of 7.7% in that state. In Sao Paulo, there was an increase if 1.1% in prices. In that capital, real estate prices increased 5.9%. Both States had a variation higher than the inflation in the same period.
About FIPEZAP – The “FIPEZAP Index of Advertised Real Estate” (FIPEZAP) is a real estate price indicator – the main thermometer of the Brazilian real estate market – produced in a partnership between FIPE and ZAP Imoveis.
About ZAP Imoveis – ZAP Imoveis is the largest real estate web portal of Brazil. A company of Organizacoes Globo, the site stands out for putting together the largest and most qualified number of offers, as well as solutions and other information for people looking to rent, buy or sell a property. With a current, reliable database, it also provides strategic information for Brazilian and foreign analysts about the supply and demand ratio of real estate throughout the country. It has 3.5 million users; 56 million visits per year; 510 million pageviews per year.
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