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2021
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BEST TIME TO INVEST IN LAST 12 MONTHS






While Rio’s reputation as the ’Marvellous City’ may be well deserved, property prices in recent years have bordered on the fantastic. However just when property watchers thought the market was near peaking, a combination of factors is driving local and international investor interest again. A recent weakening of the Brazilian real combined with first quarter property figures showing a temporary dip in prices has provided the best environment in the past 12 months for international buyers to be part of the Brazil property success story.


The melting pot of contributing factors to Rio´s recent property boom is nothing new. The country’s strong economic performance drove an ever-strengthening real and increased investor confidence, encouraging Brazilian banks to lend money to consumers like never before. Combined with increased security and a growing international interest due to the World Cup and the Olympics, Rio rapidly turned into both one of the most desirable, and most expensive, cities to live in. Property prices set off like galloping horses, rising a jaw-dropping 140% on average since 2008. However by the end of 2011, there was the feeling among experts that things may gone too far - China’s voracious appetite for Brazilian commodities showed signs of slowing, while a drop in Brazilian productivity and lower than expected GDP caused the government to embark on a currency war to ensure Brazilian exports remained competitive. Recently regarded as one of the world’s most over-valued currencies, the Brazilian real has weakened throughout 2012, and last week hit the psychological level of 2 per US dollar, its lowest point since the beginning of 2009. While currency experts predict that the real will remain stable for the foreseeable future, for foreign investors this equates to a 22% increase in spending power since this time last year.



For David Seale, Co-Director of property consultancy InTown Group, ´The weaker real mixed with recent consolidation in property values is making Rio property a better investment now than at any point in the last 12 months.´ Recent market data shows property prices in Rio stabilizing for the first time since 2008. Prices have dipped slightly in 2012 and are predicted to continue to do so in coming months before beginning to rise again before the end of the year. Experts believe that following the present consolidation, prices will increase again, however at more sustainable levels than in previous years. Rubem Vasconcellos, the president of real estate agency Patrimovel, is predicting that real estate prices could fall as much as 30% until the end of the year as the market stabilizes. For Samantha Mortner Flores, Co-Director of property consultancy InTown Group, `The coming months are a great time for bargain hunters to be looking to pick something up in order to get in before prices start to rise again in the lead up to the World Cup and Olympics.´ Her multi-lingual consultancy, InTown Group, is a one stop property, architecture and construction group created in response to a growing number of discerning international clients looking for first-rate property brokerage and renovation services.