Rio’s residential real estate market jumps 55% and once again attracts wealthy foreigners

For hard-currency investors, the 21% drop in the Brazilian Real against the dollar since early 2020 has encouraged the search for bargains in the real estate market.

RIO DE JANEIRO, BRAZIL - While Covid-19 emptied Rio de Janeiro's beaches and overwhelmed hospitals, luxury real estate broker Frederic Cockenpot received a flood of inquiries. Businesses were closed and the economy was shaken, but foreign clients would do anything to close deals.

"They were saying, 'Fred, find something now, I need to send money now,'" said Cockenpot, head of WhereInRio, a brokerage that caters to international clients.

For hard-currency investors, the 21% drop in the Brazilian Real against the dollar since early 2020 has encouraged the search for bargains in the real estate market. They capitalized on . . .

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