By Michael DeLeo, Contributing Reporter
RIO DE JANEIRO, BRAZIL – When it comes to purchasing property, almost anywhere in the world the proximity to water heavily influences the value. Rio de Janeiro’s real estate values are no exception, especially for the coveted views of the long stretches of Zona Sul (South Zone) beachfront.
Move an inland two-bedroom condominium to the Copacabana beachfront and watch the value quadruple. Everyone wants to wake up in the morning with the cool breeze in their face, the ocean mist in their nose, all without having to sleep on the beach.
Flamengo beach is the lesser known shoreline within Rio due to the polluted waters making it unsuitable for swimming. However, that doesn’t mean an ocean view is cheap. Three and four-bedroom condos with a view of Flamengo beach are going for R$3 million. Smaller condos with the same location and view are on the market for R$1 million.
Some of these condos just have a partial view of the beach and are still a block away. For a Flamengo condo, beachside with a 180 degree view, be prepared to shell out R$4.5 million and up.
Moving south and around the peninsula is a secluded borough called Leme which shares the same beach as the popular Copacabana but without the heavy tourist traffic. This area has only four blocks lining the beach, making the real estate market for ocean front properties small. However, there is a one-bedroom, one-bathroom condo up for sale at R$1.95 million.
Copacabana Beach is world famous and the property values reflect it. Every home owner wants to have that key word on their address. A four-bedroom, two-bathroom, beach front property is asking R$8.5 million.
There are some more modestly priced properties such as a three-bedroom, one-bathroom condo for R$2.3 million but it is a half block off the beach. There is also an apartment at the top of one of the taller buildings set back in Copa for R$1.75 million.
Ipanema is know for its beautiful beach, designer stores, and high real estate prices. Even more expensive than Copacabana, there are luxury ocean view properties asking R$10.5 million.
This multi-million dollar condominium boasts four-bedrooms, one-bath and a spectacular view of Ipanema beach. Sliding down the scale a bit there is a R$4 million two-bed, two bath condo with ocean front views.
Last and most certainly not least, we test the real estate waters of Leblon. This area of Rio de Janeiro has undoubtedly the most expensive properties in town. Take, for instance, this gorgeous five-bedroom, two-bathroom apartment with a jaw dropping view of Leblon Beach asking R$13 million.
As dizzying as the price seems, it still appears to be good bargain considering the other property values within Leblon. One can find less expensive homes in Leblon that still view the ocean. This smaller, three-bedroom, one-bathroom apartment is on the market for R$1.4 million.
When it comes to real estate you get what you pay for. A luxurious, multiple bedroom and bathroom condo with views of Flamengo beach will cost you three times as much in Copacabana.
This may seem unreasonable, but consider these variables when you decide to re-sell. Living near the beach or even on the beach is not for everyone, but if it’s a lifestyle you desire then start saving.