by Rodrigo_Soldon

Apartments for Sale in Rio de Janeiro ? Where to Invest?

Apartments for Sale in Rio de Janeiro – Where to Invest?

With hosting two of the largest sporting events of this decade – the World Cup 2014 and the Olympics 2016 – real estate and land investors’ interest in apartments for sale in Rio de Janeiro as well as other opportunities has continued to grow.  But where are the lucrative property deals to be found in Brazil’s second largest metropolitan area?

The main areas of interest for finding apartments for sale in Rio de Janeiro are as follows:
‘Zona Sul’ (South Zone) – the richest region of the city and home to some of the most expensive real estate and land in South America. The area is composed of several prominent districts including São Conrado, Leblon, Ipanema, Arpoador, Copacabana, Leme, Glória, Catete, Flamengo, Botafogo and Urca – all of which border the Guanabara Bay – as well as Santa Teresa, Cosme Velho, Laranjeiras, Humaitá, Lagoa, Jardim Botânico and Gávea.

‘Centro’ (Central) – downtown Rio serves as the city’s financial district and historic centre with an increasing amount of residential apartment opportunities, particularly in the Portuária regeneration area (Gamboa, Saúde and Santo Cristo).
‘Zona Ouest’ (West Zone) – areas of real estate and land interest include Jacarepaguá, Recreio dos Bandeirantes, Vargem Grande, Deodoro, Vargem Pequena, Realengo, Padre Miguel, Bangu, Campo Grande, Jardim Sulacap, Paciência and Santa Cruz. One area that has witnessed significant expansion in recent years (in terms of both residential and commercial development) is the flat expanse of Barra da Tijuca – the area’s central point is Latin America’s largest mall ‘New York, New York’ which aptly summarises the very American feel of the region. This area will be home to the ‘Olympic Village’ with its beaches being used for many of the sporting activities.

‘Zona Norte’ (North Zone) – the main areas are Tijuca (which shares the Tijuca Rainforest with the South Zone), Grajaú, Vila Isabel, Méier, São Cristovão, Madureira and Penha. The Maracanã stadium is also located in this area and has the capacity to hold 100,000 people (and is currently being refurbished in time for the World Cup 2014 upon which its capacity will reach 120,000) – as a result of its ever burgeoning presence, a large amount of infrastructure investment has been earmarked in the surrounding area. Other points of interest are the Antônio Carlos Jobim International Airport, the Quinta da Boa Vista (a large park where the historic imperial palace is located) as well as the Federal and State universities of Rio de Janeiro.

There has additionally been an increasing amount of real estate investment interest in the wider Rio de Janeiro state, particularly in the coastal regions which continue to offer lower prices complemented by strong investment yields.  Some notable examples include Cabo Frio (with its turquoise waters and white beaches, an increasingly popular national and international tourism destination); Búzios (a small town commonly referred to as the ‘French Riviera’ of Brazil); Macaé (an increasingly important economic city of Brazil due to being located by the main access point to the country’s huge petroleum discoveries) and Rio das Ostras (another area witnessing development due to its proximity to Macaé complemented by a high standard of living).

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