By Lisa Flueckiger, Contributing Reporter
RIO DE JANEIRO, BRAZIL – Even though the market is currently cooling down and rents are mostly increasing below inflation, real estate in Rio de Janeiro is quite expensive. Yet, a budget of R$5,000 (before condo fees and taxes) can already get you two to three bedrooms in the city’s most desired neighborhoods in Zona Sul (South Zone).
Leblon:
As one of the most exclusive and attractive neighborhoods in Rio, Leblon is less crowded and more extravagant than its neighbor Ipanema. In Leblon some of the most elegant bars and restaurants can be found. With access to the metro system in 2016, this neighborhood will overcome the only flaw it currently has.
Example: This generous apartment has 84m², three bedrooms, one bathroom and comes with a parking space. The kitchen is already equipped with cupboards and a stove. Rental price is R$4,900.
Approximate average apartment size for this price: 75m²
Approximate average rent per m²: R$68
Ipanema:
Ipanema is not only for tourists the place to be. The beautiful beach neighborhood boasts with great apartments, exotic restaurants and many bars and cafés and there is always something to do or see. This also makes it especially sought-after and finding a place to stay needs some persistence.
Example: This apartment is super spacious with 133m² and is located in Arpoador. It is furnished with all the basics including a fully equipped kitchen and offers three rooms and two bathrooms.
Approximate average apartment size for this price: 80m²
Approximate average rent per m²: R$65
Copacabana:
With its 4km long stretch of beach, Copacabana is a large neighborhood that houses around 160,000 people. Thus, there are always a variety of apartments on offer in the bustling neighborhood. It is also a convenient location, with three metro stations, many bus lines and a great beach.
Example: This modern and newly reformed apartment has 95m² and shines with its bright and open spaces. It comes with two bedrooms and one bathroom and lies close to the Cantagalo metro station.
Approximate average apartment size for this price: 100m²
Approximate average rent per m²: R$51
Botafogo:
Botafogo is an artsy neighborhood with many traditional buildings among the newer high-rises and an up-and-coming restaurant and bar scene. It also offers some great views onto Christ the Redemeer on one side and Sugarloaf Mountain on the other side.
Example: This cobertura (top floor) apartment is 133m² and comes with two bedrooms, one bathroom and a parking space. However, the highlights are the two deck spaces with a pool, grill and a great view onto Cristo Redentor.
Approximate average apartment size for this price: 110m²
Approximate average rent per m²: R$51
Flamengo:
Flamengo is an upper middle class residential neighborhood that is growing in popularity among Brazilians and foreigners alike. It borders with Guanabara Bay, where a huge park has been created, the Aterro do Flamengo park. It has a small beach with views onto Sugarloaf Mountain and many sports facilities.
Example: This apartment on Rua Marques de Abrantes has 126m². It has three bedrooms, two bathrooms and several built-in closets, kitchen cupboards and comes with a parking space.
Approximate average apartment size for this price: 115m²
Approximate average rent per m²: R$47
All of these properties are unfurnished unless stated otherwise, including not having a refrigerator or stove. As noted the above prices do not include condominium or IPTU fees, which will generally vary between R$500 and R$1,500. Many apartment owners will ask for a fiador (guarantor) which can be a stumbling block, or the alternative of a “seguro fiança,” a non-refundable insurance payment equal to 1-3 months of rent.