By Jaylan Boyle, Senior Contributing Reporter
RIO DE JANEIRO – We continue our look at what different budgets will get you in different neighborhoods in the city within the R$500,000 bandwidth, a sum which will buy an ample family apartment in an area like Catete, or just get you on the bottom rung in Leblon. As most urban Cariocas tend to live in apartments, we’ve focused on this sector of the market, and all prices are compiled from zap.com
Leblon
The undisputed height of chic in Rio, for those with the means this area offers the novela lifestyle that’s close to everything you need. The subway system doesn’t yet stop in Leblon, however if you’re planning to look ahead when Rio hosts the 2016 Olympics that is set to change, and could benefit your investment. Then again, if you own an apartment in Leblon you probably don’t utilize public transportation to any great degree. You’re also never far from some of Rio’s best restaurants and shopping here too.
Example: Built in 1959 on Avenida Bartolomeu Mitre, at sixty-one square meters total area this one-bedroom apartment is quite a bit of living space for R$500,000, given the location. Fixtures appear to be modern, but you’ll need to find parking space elsewhere as that sought-after spot does not come with the price.
You can view this listing here
Average total apartment area: 61 square meters
Average price per square meter: R$9500
Ipanema
Though we featured Ipanema in a more affordable price range, if your budget extends a bit further you’ll find plenty on offer here. Together with Leblon considered the cream of Rio realty, and they of course share the same stretch of beach.
Example: Although the listing doesn’t specify exactly which street, this two-bedroom apartment is close to the beach, and is good value for it’s size: 75 square meters for $550,000. Having said that, the photographs show that the additional bedroom has definitely cost the lounge some area.
You can view this listing here
Average total apartment area: 67.5 square meters
Average price per square meter: R$8,500 per square meter
Gavea
From blue collar roots, Gavea is now among the most desirable areas in Rio to live, and prices reflect this. Something of a contradiction, Gavea is at the same time renowned as a a nightspot for the young and restless, as well as being a middle-class family-oriented neighborhood. The nightlife on offer relates to the many schools and universities in the area, but shopping and amenities are also excellent, as is access to Barra.
Example: At 70 square meters for R$575,000, this two bedroom apartment gives you an idea of what an investment in Gavea will cost you. The photos show a well-planned accommodation, that seems more spacious than the area would suggest.
You can view this listing here
Average total apartment area: 110 square meters
Average price per square meter: R$5,950
Urca
If Leblon is Rio’s home of chic, then Urca is it’s more distinguished elder relation. Those who are just passing through will probably know Urca only as the embarkation point for the famed Sugar Loaf mountain cable car, and may not get to see the tranquil side streets and grand old architecture of this beautiful suburb. Reputed to be the safest neighborhood in Rio.
Example: Perhaps surprisingly given the averages detailed below, R$580,000 gets you a three bedroom apartment at 126 square meters total area, with what must be a stunning view of Baia Guanabara, though the photo doesn’t really do it justice. If you’ve got the money to spend, this would surely be a great investment.
You can view this listing here
Average total apartment area: 84 square meters
Average price per square meter: R$6,900
Laranjeiras
One of Rio’s oldest neighborhoods, the area is packed with classical colonial Portuguese architecture. If your budget is around the figure we’re looking at this week, then Laranjeiras certainly seems to offer the most choice among the areas we’re featuring.
Example: Fully 130 square meters, this one bedroom apartment at R$500,000 would be spacious living indeed. What grabs the eye straight away is the expansive veranda, perfect for entertaining, and proving that Laranjeiras is still the way to go for comfortable living at comfortable prices.
You can view this listing here
Average total apartment area: 92 square meters
Average price per square meter: R$5,800