SAO PAULO Jan 4 Brazilian home prices rose for
the tenth straight month in December, giving builders and banks
some hope the worst of a multi-year market downturn is finally
easing, market data released on Wednesday showed.
The monthly FipeZap indicator, which covers 20 major
Brazilian cities, edged up 0.13 percent from November,
university research center Fipe and online classified ad
platform Zap said.
Despite the streak of consecutive increases in national
prices, the rise in home values has failed to outpace inflation,
suggesting gains for sellers in cities like São Paulo and Rio de
Janeiro may be a long way off.
While Brazilian home prices rose by 0.57 percent in 2016,
inflation for the period is expected to have reached 6.40
percent, the statement said. The government will release
inflation data on Jan. 11.
Adjusted for inflation, home prices likely fell by more than
5 percent in 2016, the statement said.
In Rio de Janeiro, where average prices per square meter are
the highest in the country, the value of homes edged lower by
0.06 percent in December, the survey showed. In São Paulo, home
prices rose 0.14 in December from the prior month.
(Reporting by Ana Mano; Editing by Nick Zieminski)