More development rights led to more multifamily permit filings.

The regression-discontinuity estimates rise in the years following São Paulo's zoning reform.

FROM THE PAPERFigure 4 · Dynamic RD coefficients for multifamily permit filings

Source: Anagol, Ferreira & Rexer (2026) · Figure 4; PDF p. 44

Keep in mind: The outcome is permit filings near a zoning boundary, not completed homes or directly observed citywide prices.

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The regression-discontinuity estimates rise in the years following São Paulo's zoning reform.

Source: Anagol, Ferreira & Rexer (2026)
Figure: Figure 4 · Dynamic RD coefficients for multifamily permit filings · Figure 4; PDF p. 44
Keep in mind: The outcome is permit filings near a zoning boundary, not completed homes or directly observed citywide prices.

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