Apartment buying in Rio de Janeiro requires a lot of documentation checking before the initial approach. Rio’s real estate market is very complex and it usually takes more than two weeks to understand the hidden details. Your knowledge should include general prices, locations, facilities and security details.
The first thing you should know is whether or not it’s a good move to buy an apartment. It is a general good idea to buy low priced damaged apartments and to get them to better standards and then resell them (this is actually a common strategy on apartment sales in Rio de Janeiro). But it is even better to buy a beachfront or near beach apartment and rent it. Unfortunately these apartments can turn to be really expensive since they can produce more than 16000 USD a year if rented to tourists.
Copacabana and Ipanema apartments are usually expensive and now all over the South Zone of Rio it’s getting expensive too. If you want a cheaper apartment or with a different price range you could try some other neighborhoods, like Barra da Tijuca and Recreio.
All these being said the apartments sales in Rio de Janeiro could be of interest to any serious entrepreneur as your investment will give you a high return. And if you have enough capital you could launch in more serious business within the Rio real estate market, like commercial property.
This will be a series of posts about property in Rio, why buy now or wait, where to buy now, how to buy, how to look, etc… Rio is for sure the place to buy now or later!
First category of our series:
– Affordable beachside
Living close to the beach has become prohibitive in most of Rio, and if you are considering buying and wants to be close to the ocean, consider Barra da Tijuca and Recreio. These West Zone neighbourhoods, 40 minutes from the South Zone and downtown Rio are what’s left in Rio in affordability next to the sea.
Try these searches for a few examples:
Below, the two main property search websites in Brazil.
These are properties in Rio of up to R$ 200.000(around 120.000 USD) for two bedroom apartments.