By Jewellord Singh, Contributing Reporter

RIO DE JANEIRO - Rio’s bid for to host the World Cup in 2014 and Olympics in 2016 has set the real estate industry into a boom. With prime locations Leblon, Ipanema and Copacabana experiencing continued transformation, foreigners and Brazilians alike are buying, often as vacation rental properties.

Vacation rental buyers, or individuals who invest in real estate properties to rent for most of the year, are taking mostly studio and one-bedroom apartments, followed by a growing . . .

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