In May, the sale prices of rooms and commercial sets of up to 200 square meters rose 0.18%, while rental values advanced 0.62%, according to a survey by Fipezap Index. Even positive, the variations were below those observed in April, when the increases had been 0.23% and 1.08%, respectively.
Datazap economist Paula Reis explains that unlike the residential real estate market, the commercial rooms of up to 200 square meters has not yet shown clear signs that the monetary tightening started in September 2024 is having effects. “This is because the Fipezap index that slowed down for the second time was the lease, while the sales index showed a discreet increase,” he said.
According to Paula, to obtain a more accurate view of the behavior of commercial property prices, free of seasonality, you need to look at the variations accumulated in 12 months. “Between April and May from one year to another, the rental price variation retreated from 7.83% to 7.30% and the variation of sales price went from 1.34% to 1.42%. The expected effect of contractionist monetary policy would be the opposite, slowing in the sales and heating market in the lease market,” he said.
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For the economist, other market indicators are also important factors, such as the improvement of work and commerce rates, which are related to the performance of the commercial real estate market. “And they keep improving.”
Comparatively, the performance of commercial real estate rents is robust and the accumulated rise of 7.30% in 12 months is above official inflation measured by the IPCA, up 5.32% in the period, and the IGP-M, the so-called rental inflation, which rose 7.02%.
Regional highlights
Among the cities monitored by the indicator, Curitiba stood out with the highest appreciation in the sales price in 12 months, up 12.55%. Already the city of Niterói, in Rio de Janeiro, led the increase in rental value, with a jump of 19.18%.
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See the cities with the highest:
- Sale (12 months): Curitiba (+12.55%), Niterói (+4.58%) and Florianópolis (+4.15%)
- Rent (12 months): Niterói (+19.18%), Curitiba (+14.83%) and Campinas (+10.88%)
São Paulo is still on the rise
In May, the average sales price of commercial properties was R $ 8,533 per square meter, especially São Paulo, where the value reaches R $ 10,290 per square meter. In rent, the average value was R $ 47.30 the square meter, also led by São Paulo with the value of R $ 56.43 per meter.
Profitability
For investors, commercial real estate are still attractive. The average return of commercial rent was 6.87% per yearhigher than the average residential lease of 5.93% per year. Salvador emerges as the most attractive city for investors, with annual profitability of 10.05% in the commercial segment.
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Despite the positive profitability, commercial rental income still remains below the expected returns in traditional financial investments, which can influence investors’ appetite, according to Fipezap survey.
See the best cities for return with commercial rent:
- Savior: 10.05% AA
- Campinas: 8.34% AA
- Brasilia: 7.05% AA
- São Paulo: 6.86% AA
- Niteroi: 6.59% AA
Read more: Residential rent slows in May, but still exceeds inflation in the year
