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    São Paulo has the biggest monthly rise in rent prices since the beginning of the pandemic

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    Average price per square meter in the city of São Paulo is R$ 35.98 per month (Image: Pixabay)

    The city of São Paulo had the biggest monthly increase in rent prices since the beginning of the pandemic, with an increase of 1.55% in the comparison between October and November, shows data released by Fifth floor this Friday (3rd).

    According to the company, the average price per square meter in the city was R$ 35.98 per month.

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    The company also said that rent in the city has been recovering since the start of Covid-19, but is still 7.8% below that registered in March 2020.

    Overall, 24 of the 61 neighborhoods in the city of São Paulo have already recovered from the pandemic, but some regions such as Pine trees and Vila Olímpia are still far from recovery.

    East side is highlighted

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    The neighborhood of Vila Formosa, located between Tatuapé and Vila Prudente, was the highlight, with a 19.7% increase in rental prices in the last 6 months.

    In October alone, the region had an increase of 2.7%, totaling the average price in the region at R$ 24.53 per square meter. Other nearby neighborhoods also saw the price rise, such as Belém, which appreciated by 18.7% in the last 180 days.

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    Already Mooca and Tatuapé returned to pre-pandemic levels. In another part of the city, in the south, the highlight goes to Ipiranga, which rose 16.8% in the last semester.

    At the other end, Bom Retiro (-11.8%), Vila Carrão (-8.1%) and Vila Vila Clementino (-8%) were the most undervalued in the same period.

    Source From: Moneytimes

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