Brazil

Rental Yields in Brazil in 2022, Q3

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Brazil: rental yields are moderate

November 07, 2022

Last Updated: Oct. 13, 2022
SAO PAULO - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Center
Studio $57,798 $289 6.00%
1-Bedroom $78,027 $424 6.52%
2-Bedroom $144,495 $578 4.80%
3-Bedroom $260,091 $925 4.27%
Sao Paulo (all locations)
Studio $85,008 $453 6.40%
1-Bedroom $84,454 $501 6.36%
2-Bedroom $207,798 $982 5.67%
3-Bedroom $462,823 $2,267 5.88%
4+Bedroom $729,521 $2,880 4.74%
Sao Paulo avg. Rental Yields 5.63%
SALVADOR - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
SALVADOR (all locations)
Studio $71,032 $403 6.80%
1-Bedroom $71,785 $345 5.77%
2-Bedroom $110,511 $531 5.77%
3-Bedroom $258,884 $1,131 5.24%
4+Bedroom $402,708 $1,342 4.00%
Salvador (all locations) avg. Rental Yields 5.52%
RIO DE JANEIRO - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Center - Centro
Studio $55,629 $173 3.73%
1-Bedroom $91,884 $261 3.41%
2-Bedroom $169,614 $604 4.30%
3-Bedroom $374,058 $460 1.48%
4+Bedroom $467,093 $767 1.97%
Rio De Janeiro (all locations)
Studio $85,008 $217 3.06%
1-Bedroom $97,287 $230 2.84%
2-Bedroom $217,243 $729 4.03%
3-Bedroom $481,714 $1,918 4.78%
4+Bedroom $748,115 $2,350 3.77%
Rio De Janeiro (all locations) avg. Rental Yields 3.34%
FORTALEZA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Fortaleza (all locations)
Studio $73,579 $113 1.85%
1-Bedroom $62,151 $179 3.45%
2-Bedroom $113,344 $283 3.00%
3-Bedroom $340,033 $623 2.20%
4+Bedroom $434,487 $856 2.36%
Fortaleza (all locations) avg. Rental Yields 2.57%
GUARAPARI - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Center - Centro
Studio $49,116 $227 5.54%
1-Bedroom $90,676 $378 5.00%
2-Bedroom $141,681 $529 4.48%
3-Bedroom $311,697 $718 2.76%
Guarapari (all locations)
Studio $50,060 $227 5.43%
1-Bedroom $79,341 $340 5.14%
2-Bedroom $136,013 $567 5.00%
3-Bedroom $264,470 $690 3.13%
Guarapari (all locations) avg. Rental Yields 4.56%
RECIFE - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Recife (all locations)
Studio $59,506 $416 8.38%
1-Bedroom $66,247 $472 8.55%
2-Bedroom $103,899 $635 7.33%
3-Bedroom $255,025 $1,322 6.22%
4+Bedroom $283,361 $1,111 4.70%
Recife (all locations) avg. Rental Yields 7.04%
VITORIA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Vitoria (all locations)
Studio $85,575 $378 5.30%
1-Bedroom $103,899 $381 4.40%
2-Bedroom $143,570 $425 3.55%
3-Bedroom $321,142 $1,058 3.95%
Vitoria (all locations) avg. Rental Yields 4.30%
SANTOS - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Santos (all locations)
Studio $60,261 $494 9.84%
1-Bedroom $85,008 $567 8.00%
2-Bedroom $147,348 $945 7.69%
3-Bedroom $311,697 $2,267 8.73%
4+Bedroom $453,380 $5,667 15.00%
Santos (all locations) avg. Rental Yields 9.85%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

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Prices have begun to move strongly down in Brazil, and in terms of US dollars, the downward move is much greater because of the decline of the Brazilian Real by 50% over the past five years, with some recovery since the beginning of 2022.

Gross rental yields - what you can earn from an apartment before tax and other expenses - have continued to move down, and in most parts of Sao Paolo and Rio being a landlord generates a much less attractive return-on-investment than it did a few years ago. In Rio, yields of 1.48% to 4.78% are pretty typical, in Sao Paolo apartment yields are rather higher at 4.27% to 6.52%.

   

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