Brazil commercial real estate prices fall in November
The price of Brazilian commercial real estate has continued to contract, signaling the sector remains vulnerable to the effects of the country's recession, according to market data released. The monthly FipeZap indicator showed commercial property prices dropped 0.45% in November from the prior month, extending year-to-date losses to 3.18%, the research group said. In October, commercial real estate prices slipped 0.28 percent. The FipeZap indicator, which covers the cities of Sao Paulo, Rio de Janeiro, Porto Alegre and Belo Horizonte, also showed leases fell 0.35 percent in November from October and dropped 7.9 percent year-to-date.
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