1 bedroom apartment rental price drops in SP – 05/05/2023 – Market

For the first time in 12 months, the price of renting apartments with just one bedroom dropped in the city of São Paulo, according to the monthly monitoring of the rental website QuintoAndar released this Thursday (4).

The average price per square meter of this type of property ended April at R$56.89, a level slightly lower than the previous month (R$57.09).

Vinicius Oike, economist at QuintoAndar, says that the result was already expected and can be attributed to macroeconomic factors, such as the high basic interest rate – maintained at 13.75% by the Central Bank this Wednesday (3).

“It is this economic situation, which generally reduces the demand for rent and is being reflected first in one-bedroom apartments”, he says. According to him, the expectation is that prices stabilize or grow in smaller variations throughout the year.

When considering all types of properties, the rent value in São Paulo grew 0.25% last month, compared to March, and reached an average of R$ 44.80. This is the highest price recorded since the beginning of the historical series in 2019.

The neighborhoods with the most expensive rents in April, according to the platform, were Vila Olímpia, Pinheiros, Santo Amaro, Vila Madalena and Brooklin.

Also according to QuintoAndar, Jardim Éster Yolanda, Jardim Anália Franco, Morumbi, Santo Amaro and Mandaqui had the highest valuations in the last six months.