By Jack Arnhold, Contributing Reporter
RIO DE JANEIRO, BRAZIL – Many people arrive in Rio de Janeiro looking for an affordable place to stay, often with a budget that doesn’t offer them much in the way of choice. However, with the current property climate, there are options throughout Rio’s most desirable neighborhoods, even for those without a lot of disposable income.
Though the city of Rio de Janeiro is known as one of the more expensive in South America, accommodation can be found for less than expected without having to compromise too much on location.
Bel Casson, Manager at Caminhos Language Centre, has a wealth of experience in helping students find affordable accomodation. She commented, “For R$1,500 you could rent a room in Copacabana, Leme, Botafogo and Flamengo. Ipanema and Leblon are more expensive.”
In terms of what R$1,500 per month will get now compared to the past, she said, “Prices have been creeping up prior to the Olympics but now we are seeing them flatline and even depreciate a bit. Owners are realising they can’t ask big bucks like they were doing as the offering is huge and competitive!”
Here’s what a budget of R$1,500 (before condo fees and taxes) can rent in Rio de Janeiro in 2018.
The neighborhood is famously Rio de Janeiro’s most exclusive and expensive, so there isn’t a great amount on offer at a price tag of R$1,500. Another option to consider, if you’re aiming at the higher-end neighborhoods with a budget of around R$1,500 per month, is to try many of Brazil’s flat sharing platforms, such as EasyQuarto, which has plenty of rooms on offer at around this price.
R$1,300 per month will get a 27m² recently renovated one-bedroom studio apartment on Avenida Bartolomeu Mitre, with easy access to the beach and the nearby metro station, Antero de Quental. The property is described as ‘light and airy,’ though no picture is provided.
As with Leblon, Ipanema is still a highly desirable neighborhood and, unsurprisingly, has little to offer for people searching for a flat in this price range.
However, R$1,300 per month will be enough for a 35m² one-bedroom apartment on Rua Gomes Carneiro in Ipanema. With close access to the beach and to the local metro station, General Osório, this flat also comes with a 24-hour doorman.
The most famous neighborhood in Rio de Janeiro has suffered a bit of a decline over the last few decades, but now it seems to be enjoying a resurgence as renters rediscover its central location and unbeatable transport links.
R$1,400 per month will rent a 48m² one-bedroom apartment on Rua Figueiredo de Magalhães with a large kitchen and a separate living room. The metro station, Siqueira Campos, is within walking distance.
The neighborhood is high in demand at the moment, with every young Carioca desperate to live here. In recent years, prices have gone up in response to this increased demand, though R$1,500 is still enough for a modest apartment.
R$1,300 per month will get a 38m² one-bedroom apartment with separate living room on Rua Marquês de Olinda. The apartment is described as being in great condition and is also within walking distance of Botafogo metro station.
Known as the unfussy neighbor of Botafogo and the beach neighborhoods, Flamengo offers stunning views, great connections to the rest of the city and plenty of outdoor space. Finding a cheap apartment in this neighborhood will also be hard.
For R$1,500 per month there is a 45m² one-bedroom apartment complete with a living room plus a balcony. Located on Rua Senador Vergueiro, the property is also within close proximity of Flamengo metro station.
The prices above do not include condominium or IPTU fees, which at this price range may vary between R$300 and R$500. Many apartment owners will ask for a fiador (guarantor), or a “seguro fiança,” a non-refundable insurance payment equal to around one to three months of rent.