SAO PAULO, March 11 (Reuters) - The average rental price for homes in nine of Brazil’s main metropolitan areas has risen slower than inflation for each of the past nine months, a private survey showed on Wednesday, underscoring how a sharp economic slowdown has chilled the real estate market.
The FipeZap Rental Index rose an average 1.95 percent in the 12 months through February, while the official IPCA consumer price index climbed 7.70 percent in the period.
Rental prices have actually fallen in Salvador, Curitiba and Sao Bernardo do Campo, according to the report, while the capital Brasilia was the only city in the study where rental prices rose faster than consumer prices.
Think tank Fipe and real estate website Zap Imoveis have been compiling the index since 2008, using the average prices listed in online classified advertisements. (Reporting by Brad Haynes and Guillermo Parra-Bernal; editing by Matthew Lewis)