Rio Real Estate, Really?


RIO DE JANEIRO, BRAZIL – By April of 2006 I had spent enough time in Rio to seriously consider buying some property here. Being a quasi-OCD planner, the first step was creating a financial plan for seasonal rentals based on a few charming one bedroom apartments available in Ipanema, which I just looked at again. As a first-time home owner in a foreign country I hesitated, the price I was expecting to pay for a comfortable place on Rua Redentor around Rua Garcia D'Ávila, US$150,000.

The biggest difference between then and now is of course . . .

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