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North Capital Leads Rental Yield Ranking with Annual Rate of 8.63%, According to FipeZAP Index, Surpassing National Average Amid Accumulated Increase in Rental Prices in 2025.
Belém has come to lead the ranking of average rental yield among the capitals monitored by the FipeZAP Residential Rental Index.
The city recorded an estimated annual return of 8.63% in December 2025, according to data released in the latest report of the series.
In the same survey, the average rental price in the Pará capital was calculated at R$ 63.69 per square meter.
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The monthly variation was 1.80%, while the accumulated increase for the year reached 17.62%, always based on advertised values.
How Rental Yield is Calculated
The indicator used to compose the ranking is the rental yield, also called rental yield.
The rate relates the average value requested for rental to the average price advertised for sale, both standardized per square meter.
From this proportion, the index converts the result into an annualized rate.
This procedure allows for comparison between different cities under the same methodological criterion, regardless of the average size of the properties or the absolute price level.
According to Fipe’s methodology, the calculation considers residential listings published on digital platforms.
This means that the numbers reflect price intentions and not necessarily the values actually negotiated in contracts.
For this reason, the percentage does not represent a guarantee of individual return.
Factors such as specific location, construction standard, vacancy, and maintenance costs can significantly alter the final yield of each property.
Why Belém is in First Place
The report shows that the Pará capital surpassed the average of the monitored cities.
The average return of the analyzed group was estimated at 5.96% per year in the same period.
The difference highlights distinct behavior between the local market and the aggregate scenario of the monitored capitals.
This result arises from the relationship between two distinct movements: the pace of rental increases and the variation in sale prices.
These two components do not always advance at the same speed across all markets.
When rentals rise proportionally more intensely than purchase prices, the rental yield tends to increase.
Conversely, accelerated increases in sales usually reduce the indicator.
In the case of Belém, the survey indicates that the combination of advertised prices for rentals and sales resulted in the highest rate among the listed capitals.
The data does not imply qualitative assessment of the local market but merely reflects the statistical relationship observed during the period.
Regional Differences in the Real Estate Market
Although the capitals are compared in the same table, each market presents its own characteristics.
Average income, demand profile, property supply, and launch dynamics directly influence price behavior.
In certain cities, sale prices may have gone through more intense appreciation cycles.
Meanwhile, rentals may react in a more gradual manner.
In other locations, rental pressure occurs more rapidly, altering the relation between the two values.
In this context, the ranking reveals regional differences in the relationship between buying and renting.
The indicator does not determine that one city is necessarily more expensive or cheaper in absolute terms.
In addition to Belém, the report identifies other capitals with high rental yield rates.
The performance varies according to the economic moment and the specific dynamics of each monitored location.
Impact on Residents and Owners
For renters, the increase in the average price per square meter can directly impact household budgets.
This effect tends to be more noticeable when adjustments exceed inflation or income growth.
From the property owner’s perspective, increases in rental rates can enhance gross income.
Nonetheless, the effective result depends on factors such as delinquency, time of vacant property, and maintenance expenses.
Real estate sector experts often emphasize that average yield serves as a market reference.
The indicator does not replace individualized analysis, which takes into account neighborhood, property standard, and tenant profile.
By working with advertised average values, the index provides a standardized picture.
The methodology facilitates comparisons but requires caution in interpretation, especially when used for investment decisions.
Monthly Monitoring and Index Methodology
The FipeZAP series is constructed based on listings collected on digital platforms of the OLX Group.
The institution releases monthly reports detailing price variations and estimated rental yield.
This monitoring allows for observing trends of acceleration or deceleration in both sales and residential rentals.
By transforming the ratio between rent and sale into an annual rate, the report simplifies reading for different audiences.
In the context that placed Belém in the lead, the indicator exclusively reflects the statistical relationship between advertised rental and sale prices during that specific period.
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