RIO DE JANEIRO, BRAZIL - Those with a lease renewal due in October need to be alert. This is because the IGP-M (General Market Price Index), the index used to readjust 90 percent of rental contracts, reached almost 18 percent (17.94 percent) in the 12 months through September, according to the Getúlio Vargas Foundation. As an example, a R$1,500 rent with a contract through September would increase to R$1,769.
With the crisis triggered by the Covid-19 pandemic, at least 25 percent of contracts have been negotiated in Rio, with reductions of up to . . .