Brazil Investment Hotspots – Rio De Janeiro

Rio is booming, in contrast to Sao Paolo which continues to see steady growth. Rio has exploded in the last five years and some real estate agencies reported a 50% increase in house prices in the space of just nine months following the Olympic Games announcement.

According to real estate analysts Globo, property values in Rio have increased by 100% in the space of five years. A whole industry has sprung up around this growth, where specialists in real estate are in big demand.

“The estate agents and managers need to pay special attention to the customer to keep them. The expertise of brokers is a market trend” said one local realtor this year. This makes it all the more surprising that the rental market is so tiny. One real estate company reported that they receive 40,000 requests a month for rental properties in Rio – one hundred times the amount of real estate offered by the company.

As property prices continue to increase and new homes hit the market, the population of 6.3 million will need to find alternatives to buying and the rental market will continue to keep pace with the rising value of property in the city.

 

Key Area: Recreio

This neighbourhood located to the west of Rio can be translated as “recreation” and this is what this area has been all about for the past two decades. It has the cleanest beaches and the best quality of life in the city – which is why it continues to be one of the most sought-after areas.

Recreio is largely populated by the middle and upper middle classes of Rio and as a result the area is more expensive, with the average price per square metre currently US$5,600.

Infrastructure improvements have made the area even more desirable in recent years and there are a number of large shopping centres, supermarkets, colleges, universities, bars and restaurants as well as offices.

 

Key Area: Jacarepagua

As with Recreio, this area is largely populated by the middle and upper middle classes of Rio and also contains a number of schools and colleges. It also has some spectacular beaches and is a favourite with those who seek green spaces and a quiet residential atmosphere. The beaches here are ideal for surfing and attract a significant number of holidaymakers from Brazil and visitors from abroad.