Brasilia – The month of September saw a
rise of 1,9% in Brazilôs seven largest cities and a cumulative 12 month gain of
29% on average for those cities and across all types of apartments. Those
cities are all state capitals of 7 of Brazilôs 26 states. The average price per
square meter reached R$ 5,936, with Brasilia, the nationôs capital topping the
list at R$ 7,859. In English, and at todayôs forex, R$ 1,83 per USD $ that
would be $302 per square foot nationally, and $ 400 per square foot in
Brasilia. Least costly was Salvador, capital city of the state of Bahia, at R$
3,452.
São Paulo averaged R$ 5,778, and Rio de
Janeiro, R$ 7,000 hitting that mark for the first time since 2008. Belo
Horizonte, capital of the state of Minas Gerais, reported R$ 4,489, Recife,
capital of Pernambuco, $4,460, and Fortaleza, capital of Ceará R$ 4,181,
Economist Eduardo Zylberstain said the
advance of the prices ââ¬Åis less than measured the first half of the year, but
still in the range of 2% per month, and still elevated.ââ¬Â Zylberstain is the economist,
coordinator of the survey. Zylberstain said that the most recent data suggest
that there has been a reduction in the number of new projects included in the
data, contrary to last year when both supply and demand expanded together in
big strides. Zylberstain said that builders have not done well in the period
getting margins squeezed despite higher prices, by a rise in the price of land,
which he called ââ¬Åthe villain of story.ââ¬Â
Zylberstain said that the data include
90,000 items of all types, existing and new build, and covering different areas
within the same city. He also noted that there can be wide variations, but said
that there is sufficient data to make the index robust and fairly indicative.
Author Steven Glazer,
