Brazil residential rent index climbs 0.33% in May

The Índice de Variação de Aluguéis Residenciais (IVAR) rose 0.33% in May 2026, according to data released by the Instituto Brasileiro de Economia of Fundação Getúlio Vargas. The 12‑month cumulative increase reached 5.42%, up from 4.49% in April.

Month‑on‑month gains were recorded in all four cities tracked: Belo Horizonte posted the strongest rise at 0.64%, Rio de Janeiro 0.34%, São Paulo 0.22% and Porto Alegre 0.32%. Over the past year, rent growth accelerated in São Paulo to 7.56%, while Rio de Janeiro, Belo Horizonte and Porto Alegre showed year‑on‑year increases of 2.10%, 5.28% and 3.71% respectively.

Economist Matheus Dias of FGV/IBRE noted that the index “still reflects the volatility of 2024‑2025, but for 2026 it should capture a more stable pricing scenario, which could slow the housing market and lower contract‑indexation rates.”