By Jack Arnhold, Contributing Reporter
RIO DE JANEIRO, BRAZIL – While the city seems to be facing one imbroglio after another, and property prices have been in a slow decline for years, many are now saying that this is the optimal time to be finding a new luxury rental in the Cidade Marivilosa (Marvellous City).
“Nowadays, thanks the crisis, you get more value for money when it comes to long term rentals in Rio de Janeiro’s Zona Sul where [we] specialize. For more or less R$10.000 you can now find beautiful apartments on Copacabana’s front line and Flamengo’s front line,” commented Charlie Jonas of Rio Exclusive luxury real estate firm.
For those seeking a long-term rental property, and who have a larger budget, here’s what R$10,000 will rent in Rio de Janeiro’s most attractive neighborhoods in 2018.
No neighborhood has been saved from Rio’s property woes, and even the ultra-desirable location of Leblon has seen its prices fall over the past few years. Still, the exclusivity and luxuriousness of this area hasn’t changed much. It’s still famed for its world-class restaurants, numerous resident celebrities and relative safety.
R$10,500 will secure a luxury 200m² apartment in Leblon with a balcony, four bedrooms, two parking spaces, all just a block from the beach along one if the main throughways, Avenida General San Martin.
Approximate average apartment size for this price: 200m²
Approximate average rent per m²: R$50
Located along the same golden stretch of coastline as Leblon, Ipanema is a favorite among the more upmarket backpackers, tourists, and young professionals. The neighborhood boasts a wide variety of bars and restaurants, with a few trendy nightclubs sprinkled into the mix.
With Rio Exclusive, a little over R$10,000 (R$10,700) will get a 195m² three-bedroom, three-bathroom apartment on Avenida Henrique Dumont, complete with two parking spaces.
Approximate average apartment size for this price: 230m²
Approximate average rent per m²: R$40
Boasting its fair share of quality restaurants and shops, yet perhaps not as of-the-moment as either Ipanema or Leblon, Copacabana is home to many luxury beachfront properties and has transport links equal to, or even better than, the other beach neighborhoods.
R$10,000 will secure a huge 430m² four-bedroom apartment directly by the beach on Avenida Atlantica, complete with three parking spaces.
Approximate average apartment size for this price: 318.6m²
Approximate average rent per m²: R$30
Every scenester in Rio is either talking about their last visit to Botafogo or planning their next trip; and it is many a Carioca’s dream to actually live here. With dive bars, trendy night clubs and bohemian fashion boutiques, the neighborhood is incredibly popular with Rio’s alternative crowd.
The closest apartment to our target price is currently a R$12,000 per month, three-bedroom, 186m² property located on Rua Assunção, with access to a communal barbecue area, a swimming pool and much more.
Approximate average apartment size for this price: 184.2m²
Approximate average rent per m²: R$43
Flamengo has everything a person could need for a comfortable and active life in Rio de Janeiro. It is located closer to the centre of the city than any of the other featured neighborhoods and also offers some stunning art-deco architecture as well as the largest open-air park in Zona Sul (South Zone).
Rio Exclusive are offering a 250m² three-bedroom apartment for R$11,000 per month, with views of Guanabara bay and the Sugarloaf mountain.
Approximate average apartment size for this price: 320m²
Approximate average rent per m²: R$30
Almost all rental properties are rented unfurnished, without even a refrigerator, stove or air conditioners. The prices above do not include condominium or IPTU fees, which can vary between R$1,000 and R$2,000.
Something else to factor in is that most 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.