By Jack Arnhold, Contributing Reporter
RIO DE JANEIRO, BRAZIL – Rental prices in Rio have recorded a drop of over seven percent in the last twelve months, so now is a great time to be looking for a property to rent. In 2018, a budget of R$5,000 per month is enough to secure a two or three-bedroom property in some of the city’s most sought-after neighborhoods.
French expatriate, Charlie Jonas of Rio Exclusive, a luxury real estate firm in Rio de Janeiro confirms, “Nowadays for R$5,000 you can get a decent three-bedroom in Copacabana or a two-bedroom in Ipanema and maybe even in Leblon.”
Leblon:
Leblon is still the most expensive neighborhood in Brazil, and remains the most prestigious of Rio’s affluent Zona Sul (South Zone). It is more residential than nearby Ipanema and younger and hipper than Copacabana. Leblon boasts world-class restaurants, shopping, and is comfortably located between Leblon beach and Rio’s Lagoa (Lagoon) which is a perfect venue for outdoor activities. The neighborhood now has access to the city’s metro, making it even easier to get around.
For R$5,000 you can move into a two-bedroom apartment located on Rua Carlos Gois, with 100m² of floor-space and garage parking for one car.
Approximate average apartment size for this price: 100m²
Approximate average rent per m²: R$50
Ipanema:
Ipanema is an especially popular destination for expatriates. Seen as one of the more accessible and diverse of Rio’s neighborhoods, it also has a very welcoming atmosphere for backpackers and tourists. Ipanema offers boutique hotels and hostels which are slightly more upmarket than Copacabana, and arguably its night-life is more bar and club orientated than Leblon’s restaurant scene. Ipanema is another hugely desirable rental location which is also between the beach and the Lagoa (Lagoon), while being well-connected to the city’s metro and bus services.
R$5,000 will get you a three-bedroom, 100m² apartment with views of the lagoa (lake) on a secure, residents-only street off Rua Almirante Saddock de Sá.
Approximate average apartment size for this price: 120m²
Approximate average rent per m²: R$40
Copacabana:
Copacabana is a bustling residential neighborhood offering plenty of period apartment buildings and excellent transport links. Though not currently as trendy as Ipanema or Leblon, Copacabana has a large stock of apartments, so will likely offer something more generous than either of its neighbors. Its eponymous beach is world-famous, with most apartments in the neighborhood being only a short walk away.
R$5,000 will secure a huge 212m² apartment on the famous Avenida Atlantica, with three bedrooms, a dining room, sea views and a parking space.
Approximate average apartment size for this price: 179m²
Approximate average rent per m²: R$30
Botafogo:
Botafogo was the up-and-coming neighborhood of Rio’s Zona Sul. No longer a well-kept secret, Botafogo hosts the alternative crowds with hip bars, art galleries, nightclubs and independent restaurants. As a residential neighborhood, Botafogo used to offer cheaper alternatives for the more artistically minded Cariocas; however, this is no longer the case, with apartments being in high demand.
For R$5,000 you can find a spacious three-bedroom 120m² apartment on the trendy Rua Voluntários da Pátria. The apartment has recently been renovated and includes a large parking space.
Approximate average apartment size for this price: 111m²
Approximate average rent per m²: R$43
Flamengo:
Flamengo is a sophisticated and unassuming neighborhood located closer to the city centre than any of the other beach neighborhoods. It offers fantastic transport links, cultural attractions, stunning views and beautiful architecture. More family-friendly and laid-back than the others, Flamengo is a popular choice with Cariocas and apartments are always in high demand.
R$5,000 will secure a large, 205m² three-bedroom apartment on Praia do Flamengo (Flamengo beach) with views of Guanabara Bay. This property also includes maid’s quarters and a parking space.
Approximate average apartment size for this price: 171m²
Approximate average rent per m²: R$30
Almost all rental properties are unfurnished unless stated otherwise; this may include not having a refrigerator or a stove, let alone air conditioners. The prices above do not include condominium or IPTU fees, which can vary between R$1,000 and R$2,000. Many 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.