Rio de Janeiro Property Market and Real Estate Guide

(Rio de Janeiro, Brazil)

Aerial view over Rio de JaneiroRio de Janeiro vaulted from peripheral party town to global hot zone overnight with the announcement that it would be the host city for the 2016 Olympic Games. This immediately brought much prestige and promise to a city known best for its indulgent love of anything recreational.

Consequently, property prices in Rio de Janeiro are set to spike as investors see the Olympics as an upwards turning point in the city's modern history. As construction gets underway at a pace, foreign investment has begun flooding back into Rio and there has been resurgence in tourist interest.

Suddenly cool again, properties overlooking Copacabana or Ipanema are sure to take on improved status and increased value, while affordable districts like Flamengo and Catete attract expats, as do residential areas like Laranjeiras and Cosme Velho. Anyone with an interest in investing in property in Rio de Janeiro will be encouraged by Brazil's very liberal foreign property ownership laws.

Renting Serviced Apartments

At carnival time, renting any form of accommodation in Rio de Janeiro can be next to impossible. The few properties that are still vacant will likely be extortionately expensive. Serviced apartments will be rented for up to ten times their regular rentals at this time.

At other times of the year, even serviced apartments in Centro and those with views of Copacabana Beach are quite good value, with one week minimum stay the norm and prices that are around the same per night as a two or three-star airport hotel in Europe.

Coastal photo of Rio

Buying Apartments and Houses

There are no restrictions on foreigners buying property in Brazil and this, naturally, includes buying property in Rio de Janeiro. All that is required is a Brazilian ID known as a CPF, which is obtained on presentation of a valid passport of any nationality.

Expect property prices in Centro and Leblon to be high, with most expats purchasing in pleasant suburbs like Gávea and Jardim Botânico, while districts like Barra da Tijuca and Recreio dos Bandeirantes have well-priced condos, with the north having even cheaper options.

Once this has been acquired, property purchases proceed in much the same way that they do elsewhere in the world. Permanent visas are available to anyone married to or parent to a Brazilian, or who is aged over 50 with a reliable monthly income.

Real Estate Agents

Most people who buy property in Brazil arrange it offshore, via international agents and brokers, who operate portfolios of property in Rio de Janeiro while servicing a clientele in one particular country or region outside of Brazil.

Buying real estate while in Rio de Janeiro can be a little tricky for anyone who doesn't speak Portuguese, though agents with English speaking staff are possible to source.

Check out the following Rio de Janeiro realtors and real estate agents:

NCR Imoveis
Address: Estrada do Pre, 1139 - Sen. Vasconcelos, Rio de Janeiro, Brazil
Tel: +21 3403 3837
Comprehensive local realtor with a diverse portfolio of rentals and sale properties.

Ponto Central
Address: Av. Das Americas, 5001 - Barra da Tijuca, Rio de Janeiro, Brazil
Tel: +21 2432 7864
Ponto Central offers services in English and Portuguese and runs a well-known naturalization service, too.

Danile Teles de Souza
Address: Rua Marechal Dantas Barreto - Campo Grande, Rio de Janeiro, Brazil
Tel: +21 3904 4876
Danile Teles de Souza runs a service primarily geared to retirees and wealthy newcomers to Brazil looking to buy luxury homes.