Macroeconomic Determinants of Real Estate Prices in Brazil and its Capital Cities

Authors

DOI:

https://doi.org/10.14393/REE-v40nesp.maioa2025-78370

Keywords:

Brazil, Macroeconomics, Real Estate Market, Price Dynamics, Regression Analysis

Abstract

The article analyzes the dynamics of residential real estate prices in Brazil and five major cities between 12M2013 and 12M2023, employing the Generalized Method of Moments (GMM). The findings suggest that economic activity does not influence prices, indicating a detachment from broader economic trends. Terms of trade exert a significant impact, particularly in Goiânia, due to the emergence of a new agricultural frontier. Directed credit plays a crucial role in the Northeast, reflecting local socioeconomic characteristics. Furthermore, the basic unit cost of production influences tourist cities, where the construction sector competes with tourism for labor, shaping price dynamics.

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Author Biographies

  • Vinicius Sorensen Berro , UFU

    Universidade federal de Uberlândia

  • Benito Adelmo Salomão Neto, UFU

    Universidade Federal de Uberlândia

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Published

2025-05-30

Issue

Vol. 40 No. esp.maio (2025): "A Economia Brasileira nas Últimas Quatro Décadas" - Revista Economia Ensaios – 40 anos (1984-2024)

Section

Artigos

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Copyright on any open access article published by “Revista Economia Ensaios” is retained by the author(s). Authors grant “Revista Economia Ensaios” the right to first publish the article, and also grant any third party the right to use the article freely, in educational and non-commercial applications, so long as its integrity is kept and authors and citation details are identified.

How to Cite

BERRO , Vinicius Sorensen; NETO, Benito Adelmo Salomão. Macroeconomic Determinants of Real Estate Prices in Brazil and its Capital Cities. Revista Economia Ensaios, Uberlândia, Minas Gerais, Brasil, v. 40, n. esp.maio, 2025. DOI: 10.14393/REE-v40nesp.maioa2025-78370. Disponível em: https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/78370. Acesso em: 6 dec. 2025.