By Ségolène Poirier, Contributing Reporter
RIO DE JANEIRO, BRAZIL – After the 34.9 percent surge of Rio’s 2011 rental market, it is hard to keep up with the changes in how far one’s money will go. For those with the means, looking at renting in Rio with a budget of R$10,000 per month (US$5,400 with today’s 1.8 exchange rate), most people could do well in the Cidade Maravilhosa.
Following the series of articles published last year (with the budgets of R$1,500, R$2,500, R$3,500, R$5,000 and R$10,000), we look again at higher-end properties in Zona Sul (South Zone) – Leblon, Ipanema, Copacabana, Botafogo and Flamengo – among the most popular areas for foreigners in Rio.
Prices do not include significant condominium fees and IPTU taxes, which can easily add around R$1,000-R$1,500 per month. Also not included is the “seguro fiança” a type of renter’s insurance often required for long-term leases, that can be equal to two or three month’s rent and paid up-front.
With its beautiful beach, some of the finest restaurants and bars in Rio, Leblon is perhaps the most exclusive and expensive neighborhood in Cidade Maravilhosa. An example rental property is this 100m² two-bedroom apartment with lots of light and a great view on Leblon’s beach. Smaller than the average apartment area one can find in that neighborhood, perhaps the view is worth it. Living-room, dining-room, kitchen two bedrooms (one suite) and office elegantly furnished.
Approximate average apartment area: 130m²
Approximate average rent per m²: R$69
Ipanema is without a doubt one of the most popular neighborhoods with expatriates and Cariocas, thanks to its world famous beach and numerous bars and restaurants. An example rental property is this 145m² three-bedroom apartment which has a view on Christ the Redeemer, one room with a veranda and two bedroom suites with bathrooms.
Approximate average apartment area: 157m²
Approximate average rent per m²: R$58
Copacabana remains the top choice for tourists and many locals alike, thanks to a fantastic beach, more transportation options and yet more affordable than Ipanema. An example rental property is this 252m² four-bedroom apartment, a rare opportunity in Copacabana. This luminous and very spacious apartment has an amazing view on the beach, with marble floors in the kitchen and the bathroom, wooden floors in the other rooms.
Approximate average apartment area: 156m²
Approximate average rent per m²: R$53
Located between Lagoa, Copacabana and Flamengo, Botafogo’s popularity has increased over the past years thanks to a bustling nightlife scene and many new restaurants. An example rental property is this 250m² three-bedroom penthouse situated next to the subway station and just fifteen minutes from Copacabana beach. With a living-room, kitchen and one suite on the first floor, and two bedroom suites with bathrooms and dressing on the second floor. The rent is R$10,000 with R$1,000 for condominium included.
Approximate average apartment area: 182m²
Approximate average rent per m²: R$50
This upper-middle class neighborhood is located between Botafogo and Centro, has amazing views of Sugarloaf Mountain and three metro stations in the area, making it popular with young commuting professionals. An example rental property is this 262m² four-bedroom penthouse which has an amazing view on Guanabara Bay and the Niterói Bridge. On the first floor, there is a big living-room, large kitchen and the four bedrooms (three suites), then a second living-room and sauna on the second floor as well as a spacious terrace, concierge and 24-hour security.
Approximate average apartment area: 250m²
Approximate average rent per m²: R$34