By Martin Kocandrle, Contributing Reporter
RIO DE JANEIRO – Brazil may be on the cusp of a much-discussed real estate boom, but in one corner of Zona Sul where the price per square meter is higher than anywhere in the country, there are relatively few new developments underway.
Leblon may be lacking the tidal wave of jackhammers, building crews and construction cranes found in Barra da Tijuca, but there are changes underway in Rio’s luxury beach-side “barrio”. From the grandiose houses of Jardim Pernambuco to the flats and penthouses within a few blocks of the beach, interest in Leblon’s property market shows no sign of abating.
On a small scale are the numerous refurbishments underway to those apartments in sought-after buildings that, due to little more than fashion, are seeing their old Eighties interiors ripped out and modernized. Several projects are also underway to redesign entire coberturas (roof tops), with world class architects eager to get their pencils out and create some seriously eye catching.
Today, though, there are two major developments on Leblon’s beachfront grabbing most of the attention, one on Rua General Venancio Flores, the other at Rua Aristides Espinola. Both of which are top to bottom projects slowly reshaping the local landscape and a sign of things to come from developers.
The beach-front property at 900 Rua General Venancio Flores consists of nine floors with two apartments on each. Construction began three months ago and is slated to be completed as early as July, all while there are residents still present in the building.
With beachfront values as high as R$12,000 per square foot in the area, the finished project is going to attract some serious attention. More information can be found by contacting the developers, PRIMELEFAM.
Heading West along the beach towards Barra, it is only two blocks before another top down construction lurches into view at the intersection of Rua Aristides Espinola. This building is a new construction in the neighborhood and will have a state of the art luxury finish designed to attract only the highest of bidders.
1064 Avenue Delfim Moreira will comprise six floors with one apartment on each, and as ever in the area it is did not take long for them to be snapped up off-plan. Construction began about a year ago and is set to finish September, more informaiton can be provided by the developer, RJZ CYLERA.
With Zona Sul beachfront development relatively stagnant, these properties, in perhaps the most exclusive area in Brazil are sure to draw attention. According to ADEMI (Associação de Dirigentes de Empresas do Mercado Imobiliário) – an association of real estate company managers – Leblon beachfront properties start at R$2 million and reach up to R$14 million.