Fortaleza property market surges this year

Fortaleza property market surges this year

The latest figures for the Fortaleza property market show a surge in sales volumes in the first eight months of this year. According to the Flash Imobiliario for August, the sales value in the capital increased by 54% compared to the same period in 2021. Sales rose all round and prices rose by 9% between January and August. 

Sales values soar 

The sharp uptick in sales values is the main takeaway from the latest statistics for Fortaleza real estate. The latest Flash Imobiliario, compiled by Lopes Immobilis, reveals that it increased by 54% in the first eight months of the year. 

The total value of sales reached R$2.95 billion between January and August this year, compared to R$1.92 billion during the same period in 2021. The increase translates to a rise of 54%. 

Consolidated sales rate 

In terms of sales, some 5,835 units changed hands in Fortaleza in the eight months to August. The figure is slightly higher (1.4%) than in 2021, indicating a consolidated market in the city, despite the headwinds of inflation and higher interest rates. 

August sales were brisk, with 5% more transactions than in July and a value that was 9% higher. 

Second home sector booming 

The Flash Imobiliario also examined the market for holiday homes in Fortaleza and revealed a significant increase in year-on-year terms. In August, some 133 second homes were sold, a 2,560% increase on the same month in 2021. The sales value also surged by 4,900% more. 

Fortaleza property market price rises 

A price increase goes hand-in-hand with the rise in sales values and those in Fortaleza have gone up substantially this year. Real estate prices rose by 2.2% in August and by 9% in the first eight months of the year. 

The most expensive districts in Fortaleza were Meireles, where the square metre cost an average of R$13,015, Aldeota (R$11,482) and Cocó (R$11,132). Meireles was the only district in Ceará to feature on the list of the most expensive rentals in Brazil in August.

Rental returns 

A separate report looked at rental rates in Fortaleza and found that they had risen by an average of 20% in the year to August. Demand is brisk, particularly for three-bedroom and two-bedroom properties, preferred by 51% and 41% of tenants, respectively. 

(Source: Flash Imobiliario August 2022)