By Jack Arnhold, Contributing Reporter
RIO DE JANEIRO, BRAZIL – The Cidade Maravilhosa is famous for its beaches, and to live in a luxury building with an ocean view is more affordable than many may guess. While not for every tax bracket, exclusive properties available for rent in Rio can seem like a bargain compared to other coastal cities.
Charlie Jonas, of Rio Exclusive, commented on how your money will go further in Rio than in comparable beach city destinations. “Rio’s rental prices compared to cities such as Barcelona or Miami will definitely get you more.”
He adds, “[It is] because of today’s currency exchange rate in favor of the dollar and the euro. On top of that, Rio’s rental and and selling prices are know to be lower than other comparable cities.”
For those seeking a long-term rental property, and who are looking at the luxury high-end, here’s what R$20,000 will rent in Rio de Janeiro’s most desirable neighborhoods in 2018.
Leblon is the most luxurious neighborhood of Rio’s Zona Sul (South Zone). It perhaps has the most European feel of all Rio’s neighborhoods as well, populated by top-end fashion malls, world-renowned restaurants, and a selection of high-end bars and VIP nightclubs, this is the place where Rio’s rich and famous come to live and play.
Just over R$20,000 will get a 220m² three-bedroom apartment on the beach-front street of Avenida Delfim Moreira. The apartment also boasts sea views, a lounge, a dining room, two master bedroom suites and a balcony. The unbeatable location, literally a few steps away from Leblon beach, is what makes this apartment so special.
Approximate average apartment size for this price: 170m²
Approximate average rent per m²: R$122
Ipanema is slightly younger and generally more energetic and diverse than its neighbor Leblon. However, it is also famous as a relatively safe, welcoming and laid-back neighborhood, though with plenty of old-moneyed exclusivity.
In Ipanema there are lots of larger apartments on offer, providing a little more value. R$20,000 will also get a beachfront apartment overlooking Ipanema beach, also on the same stretch of road (although under a different name: Avenida Vieira Souto). This apartment is 280 m² and boasts a panoramic balcony from which you can see the sea. The property also contains four bedrooms and an office, as well as two outbuildings.
Approximate average apartment size for this price: 261m²
Approximate average rent per m²: R$82.4
Copacabana was once the crown-jewel of Rio de Janeiro. Though some of the luxury has migrated to Ipanema and Leblon, the neighborhood retains its old-school charm, and is a favorite among tourists as well as older Cariocas.
Nearly all the Copacabana apartments in this price category sit on the world famous beachfront street of Avenida Atlântica, and this apartment is no exception. R$20,000 gets a 310m² four-bedroom apartment in front of Post Six on Copacabana beach. The apartment also has a large lounge and kitchen, as well as two outbuildings and two parking spaces.
Approximate average apartment size for this price: 282m²
Approximate average rent per m²: R$76.3
Botafogo is an in demand neighborhood right now. It’s where the young and alternative crowd go, with plenty of art galleries and hip establishments. Having only a smaller beach, Botafogo is instead favoured for its slightly quieter, off-the-beaten-track appeal.
Botafogo is a relative newcomer to the luxury apartment market and, because of this, there aren’t many apartments available for rent at the R$20,000 mark. However, Rio Exclusive are currently offering a 186m² three-bedroom apartment on Rua Assunção. As well as two parking spaces, the apartment also comes complete with its own swimming pool, balcony, garden and barbecue area.
Approximate average apartment size for this price: 283m²
Approximate average rent per m²: R$78
Flamengo, like Botafogo, isn’t really a beach neighborhood. Instead, it has a huge outdoor park (Aterro do Flamengo) and stunning views of Guanabara Bay, Christ the Redeemer and Pão de Açucar (Sugarloaf Mountain). Similarly to Botafogo, the neighborhood doesn’t seem to have many apartments on the market at this price.
What is on offer are grand, classical apartments on Guanabara Bay. A little over our target price, this property is going for R$22,000 per month, but it is a gigantic 490m² and comes with three bedrooms, a dining room, a large kitchen and two parking spaces. The apartment, located on Avenida Rui Barbosa, also has views of Pão de Açucar (Sugarloaf Mountain).
Approximate average apartment size for this price: 436m²
Approximate average rent per m²: R$55
Almost all rental properties are rented completely unfurnished and the prices above do not include condominium or IPTU fees, which can vary between R$3,000 and R$4,000 at this level in the market.
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.