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By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - According to the FipeZap Index, the decline in Rio's residential real estate value was 4.45 percent in 2017 (before factoring in inflation), the largest drop in the country. The neighboring city of Niterói was the second largest drop, by 3.43 percent.

At the height of the real estate boom, prices rose more than forty percent in Rio, in the accumulated result in twelve months, in mid-2011. Despite the Subscribe to our Premium Membership Plan. Already Subscribed?