You Rental prices in Porto Alegre rose 0.63% in October compared to September, reaching an average of R$31.52 per square meter. Over the last 12 months, the increase is 14.28%. The data comes from the new indicator launched this Friday (10) in Porto Alegre, the QuintoAndar Imovelweb Rental Index. QuintoAndar is the largest housing platform in Latin America and Imovelweb is one of the largest clifieds portals in Brazil.
A research uses a different methodology of the others made on the subject by bringing together the prices of property adver per square meter and also of closed contractsshowing the average discount on negotiations. The survey will be released monthly, providing other information such as neighborhoods with greater appreciation and depreciation and values according to the apartment standardnumber of bedrooms, whether it is furnished and whether there is a parking space.
According to the index, in October, the most expensive rent was in the Três Figueiras neighborhood (R$ 58.9), followed by Praia de Belas (R$ 45.5), Mon´t Serrat (R$ 44.7%), Petrópolis (R$ 44.00) and Jardim Botânico (R$ 43, 5). Already the greatest appreciation occurred in the Parthenon (R$ 51.7%), Jardim Botânico (51.1%), Petrópolis (38.7%), Cidade Baixa (38.7%) and Auxiliadora (37.8%).
Regarding property formats, average rent values were between R$870.00 and R$960.00 in October for 1-bedroom apartments, which can reach R$ 1,250.00 when furnished. Apartments with 2 bedrooms ranged from R$ 1,270.00 to R$ 1,390.00, costing up to R$ 1,770.00 in cases where there is a parking space and those with 3 bedrooms between R$ 1,990.00 and R$ 2,180.00.
The QuintoAndar Imovelweb Rental Index is also carried out in São Paulo, Rio de Janeiro, Curitiba and Belo Horizonte. According to Pedro Capetti, data specialist at ImovelWeb, the behavior of rising rents in Porto Alegre differs from what occurs in other capitals. “We see a slowdown in prices in other cities after the recovery from the pandemic, prices have become very low. In Porto Alegre, we noticed a stabilization in values that are already high, at the level of 13% to 14%. It is a market that has maintained this growth over the last 12 months”, he esses.
Among the factors that may explain the rise in rental prices in the capital of Rio Grande do Sul, Capetti cites the drop in unemployment in Rio Grande do Sul and the recovery of the real estate market, which has been gaining momentum. The first quarter of 2024 should dictate how prices will behave during the yearbut the expert does not believe that significant variations will occur.
Among those who negotiated the rent, the discount margin obtained was 3%. “A discount of around 3% seems small, but it can often represent an improvement to the property during a 30-month rental contract. The numbers show that there is room for the tenant to bargain and get a price that fits their budget, despite the heated market”, highlights the expert.