Price of the residences in Brazil fell 2.2% in 2016

Sao Paulo-the average price of residential property in the country fell 2.26 percent in 2016, which represents a further deterioration of the market compared to 2015, when there was no retraction in house of 0.20%.
The data are part of the General index of the Residential real estate market (IGMI-R) released by the Brazilian Association of real estate credit and savings (Abecip).
Despite the worsening of the market throughout the year, the survey shows that prices rose by 0.08 percent in December, the first high from 2015. In assessing the Abecip, the December result signals a possible reversal of the downward trend in the housing market for the next months. "In line with what is expected for the fundamentals of the brazilian economy from this early 2017 this trend reversal can point to a stagnation of the nominal prices of real estate, preparing a possible stabilization of the actual values over the next few months," said the Times in the market. Note
Capital
In 2016, seven of the nine capital cities surveyed had nominal fall in the price of real estate. The major retractions were recorded in Rio de Janeiro ( -3.85%), in Belo Horizonte ( -3.55%) and Salvador ( -2.87%). In the city of São Paulo, the low was 2.39%. Only the cities of Fortaleza and Goiânia had high, of 0.73% and 0.25% respectively.
In December, four cities had a drop in prices and five showed up. The biggest casualty was in Fortaleza ( -0.46%), while the largest high occurred in São Paulo (0.09%).