The prices of residential rentals They remain warm in early 2025. The increase in March was the largest of the year, reaching 1.15%compared to the previous month, maintaining the acceleration started in December (+0.93%), January (+0.96%) and February (+1.07%). With this, the first quarter of 2025 already accumulates a high of 3.22%, according to a survey made by Fipezap Based on information collected in 36 cities throughout Brazil.
Given the new increases, the Fipezap Residential Rental Index in the first quarter exceeded the 2.04% variation displayed by the IBGE IPCA, which measures official inflation in the country, and was also above 0.99% registered by FGV IGP-M, considered the official rental index.
Among all types of real estate, those who have a dormitory are those with a more pronounced appreciation at the time of lease, rising 1.45%, compared to the smaller increases of those with four or more bedrooms, 0.95%.
“As the economy is still warm, with a rise, this helps to maintain the demand for rent. In addition, the high interest rate also removes people from the purchase of real estate, leading to lease, explains Fipezap coordinator Alison Oliveira.
Among the 36 cities monitored by Fipezap, 35 had discharge. The highlights are to the Capitals Vitória, with an increase of 3.29%, Campo Grande with 3.06%, and Teresina with 2.36%. The only exception was Brasilia, where prices retreated 0.10%.
Accumulated in the last 12 months
In the last 12 months, residential rent has advanced 12.91%, more than double the official inflation of the 5.48% measured by the IPCA and also above 8.58% registered by IGP-M. The highest valuations in the period were recorded in Salvador, up 33.08%, Campo Grande with 27.33%, and Porto Alegre with 24.98%.
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Properties with four or more bedrooms stood out in this cut, with appreciation of 15.85%, contrasting with the increase of 11.57% observed in the units with three bedrooms.
See evolution of the Fipezap index in 10 capitals:
| City | Variation in March | Accumulated variation in 2025 |
| São Paulo | 1,08% |
3.22% |
| Rio de Janeiro | 1.47% | 4.03% |
| Brasilia | -0.10% | -2.73% |
| Savior | 0.97% | 6.47% |
| Porto Alegre | 0.51% | 1.61% |
| Curitiba | 1.28% | 3% |
| Belo Horizonte | 1.64% | 4.52% |
| Reef | 0.87% | 3.09% |
| Strength | 2.16% | 3.86% |
| Florianópolis | 1.80% | 6.63% |
| Victory | 3.29% | 4.56% |
Average price and profitability
The study also shows that the average price of residential rent in the cities analyzed was R $ 48.03 per square meter in March. São Paulo continues to lead the ranking, registering the highest value per square meter, of R $ 59.83. Next comes Belém (R $ 57.29/m²) and Recife (R $ 57.16/m²). The lowest values were found in Teresina (R $ 22.82/m²) and Aracaju (R $ 25.71/m²).
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The profitability of the rent, calculated from the ratio between rental price and sales value, was 5.88% per year. This return, although below the profitability designed for low -risk financial investments, remained attractive in some capitals, such as Manaus (8.39% AA), Belém (8.37% AA) and Recife (8.18% AA).
Perspectives
According to the study, the performance of the lease market shows resilience in a context of inflation and still high interest rates. The appreciation of rents above the main price rates reflects the combination of higher demand for urban housing and restriction on the offer of new contracts at lower prices.
With this scenario, real estate lease follows as an investment alternative with stable income, especially in the capitals that concentrate the highest housing demand.
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