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By Nelson Belen, Contributing Reporter

RIO DE JANEIRO, BRAZIL - According to the latest FipeZAP Index, which tracks real estate prices in Brazil’s twenty biggest cities, residential real estate sale prices plummeted an unprecedented 0.16 percent in May.

The decline across the country represents the largest ever drop seen since the FipeZAP began recording price variations in 2012.

The distressing news also comes on the heels of two consecutive months of relative Subscribe to our Premium Membership Plan. Already Subscribed?