With city neighborhoods surrounded by green mountains, beautiful white beaches and great views of the Atlantic Ocean, Rio de Janeiro is a great place to visit and live. And over the last couple of years, this city has enjoyed a booming economy as well as decreasing crime rates, partly driven by the 2014 World Cup and the 2016 Olympics held in the city. While property prices had spiked a few years ago, things have now cooled down. And this is the best time to invest in property in Rio de Janeiro.
Renting Rio de Janeiro Apartments
If you are visiting Brazil for some months and you don’t have plans of living there permanently, then you can just rent a serviced apartment. As the name suggests, serviced Rio de Janeiro apartments come with a wide range of luxury features and amenities. However, it’s important to note that finding a serviced apartment during the Rio de Janeiro carnival is next to impossible. And the available ones are ridiculously overpriced. But during the other times of the year, serviced Rio de Janeiro apartments are fairly affordable, even those fronting the Copacabana Beach. On average, a week’s stay in a serviced apartment will cost you almost the same per night if you were staying in a two-star hotel in Europe.
Buying Rio de Janeiro Villas
If you intend to settle in Brazil permanently, then it will be highly advisable to invest in Rio de Janeiro Villas. And just like other cities in the country, there are no restrictions on foreigners investing in property in Brazil. You will just need a Brazilian ID, popularly known as CPF, which you can obtain when you present your passport. Investing in real property in Rio de Janeiro can be quite tricky, especially if you don’t speak or understand Portuguese. And in such a situation, you should work with local real estate agents, who will guide you throughout the process.
Where to Live in Rio de Janeiro
Most international buyers and rich locals usually prefer the neighborhoods of Ipanema, Leblon, Jardim Botanico, as well as Lagoa while the middle-income earners opt for Botafogo, Copacabana, Laranjeiras, Largo do Machado and Flamengo. However, more properties are coming up in downtown Rio and the neighboring areas of Porto Maravilha. Therefore, your options are practically endless if you want to buy a Rio de Janeiro villa. Rio de Janeiro offers plenty of opportunities for investment and growth. Furthermore, property prices have doubled over the last couple of years, making it a great place to invest in real estate.