Brazil Rents Up 0.37% in November as Annual IVAR Rate Climbs to 6.92%

Overview

• Monthly rent inflation eased from 0.57% in October to 0.37% in November, even as the annual pace accelerated.
• Across the four capitals, November showed Rio de Janeiro up 1.13%, São Paulo up 0.52%, Belo Horizonte up 0.39%, and Porto Alegre down 0.37%.
• On a 12‑month basis, Belo Horizonte jumped to 11.37% from 6.93%, São Paulo rose to 6.53% from 3.99%, Rio de Janeiro fell to 5.50% from 8.45%, and Porto Alegre nudged up to 4.63% from 4.42%.
• FGV Ibre economist Matheus Dias said the elevated annual readings are likely to influence lease renegotiations in early 2026 and reflect adjustments above those seen in 2024.
• FGV’s IVAR tracks negotiated rents from signed contracts via property managers, providing a measure distinct from advertised asking prices.