| Exciting
Real Estate Opportunities In Rio de Janeiro, Brazil |
| By Roger
Gallo |
| Rio de
Janeiro! The plane lifted off from Sao Paulo in total darkness for
its final leg into Rio de Janeiro. We came up out of the darkness
into high morning sunlight and my spirits soared. Too many years had passed
since I'd last seen my favorite city. There is much that I like about
Rio; its people, their music, the exotic ambiance of the place, the almost
other worldly beauty, the beaches, the sharp mountains and hills that loom
up like concertos out of the landscape, the constant ocean breezes, the
California-like atmosphere, the royal imperial palms, tree lined streets,
restaurants strung along Avenita Atlantica, the women who are like no other,
Corcovado, the jazz clubs, samba, the style of the Carioca, Jardim Botanico,
Ipanema, Copacabana - more than I could ever say in words, even though
superlatives abound. |
|
|
|
|
|
The seaman
Paul Guaguin saw Rio de Janeiro from the deck of a ship and decided to
become an artist. We first saw Rio de Janeiro in 1981 and fell it in love
with it. Time has passed, but here we are again. The microphone clicks
on, the flight attendant tells us the time, it's 6 AM, June the 7th.
We are to place all carry-on bags under the seat or in the overhead compartment,
we are to move our chairs into an upright position and fasten our seat
belts. We are informed that we are about to land at Antonio Carlos Jobim
International Airport, where the temperature is 79 degrees, and that we
are bid welcome to Rio de Janeiro.
| Search
4Escape - The International Lifestyles Search Engine |
| -
4Escape is a search engine that searches our network of websites each of
which shares a common theme: International relocation, living ? investing
overseas, overseas jobs, embassies, maps, international real estate, asset
protection, articles about how to live ? invest overseas, Caribbean properties
and lifestyles, overseas retirement, offshore investments, our yacht broker
portal, our house swap portal, articles on overseas employment, international
vacation rentals, international vacation packages, travel resources,
every embassy in the world, maps of the world, our three very popular eZines
. . . and, as they are fond to say, a great deal more. |
|
|
|
|
|
| 'Thank you,'
I say to no one in particular; as I look out the window at the city below
'...I'm happy to be home again.'
Here I was
back in Rio, just about to make the startling discovery that I could finally
afford to live here, here in my favorite city, and beyond that, that I
could actually live here cheaper than I could live anywhere else I wanted
to live, and more than that, the most startling discovery of all....
that I could buy an ocean view apartment for the amazing price of only
$25,000.
My purpose
for the trip was to research the real estate conditions in Rio de Janeiro
for this magazine. For this purpose I wanted a central location to
work from, so I had picked a hotel in Copacabana where I could take exploratory
trips in every direction and do an analysis of each of the better neighborhoods
for prices and living conditions. As I've already more or less implied,
I was in for a number of pleasant surprises. |
|
|
Offshore
Resources Gallery
|
|
|
| Less Than
Half Price.
After checking
into my hotel I had an excellent lunch at the Siqueira Grill in Copacabana.
Just before going to lunch I had exchanged some dollars into the Brazilian
Real at 2.41 Real's for the dollar. The meal was enormous, steak, sausages,
grilled chicken livers, quail eggs, beets, bean salad, three different
cheeses, creamed spinach, various vegetables plus other odds and ends,
all washed down with a half dozen Brazilian Pilsner's.
If I could
have eaten more I would have, as the menu was endless, all cooked in the
Churrasco style. There was a wide assortment of deserts that would
have done justice to the finest French restaurant, there was also fresh
fruit, espresso, juices, and anything the imagination might consider.
When I went to pay the bill it came to a little more than 10 Real (BRL).
Obviously something was wrong. I walked outside and sat down at a
bench on the beach and pulled out my calculator. I had paid about
$2.50 for a $15 to $20 meal, how could this be? In an instant it struck
me what had occurred. The price in the restaurant were pegged to
the Real, and the Real was being treated as if it were still being pegged
to the dollar on a one to one exchange ratio. |
|
|
| In other words,
to the restaurant they had just charged me $10 for a meal, but due to the
exchange rate I'd gotten it for only $2.50. In a fit of excitement I rushed
over and bought a copy of El Globo, Rio's major newspaper. I turned to
the Real Estate section and my excitement was confirmed. Apartments
were for sale in Copacabana for BRL60,000 - or, US$24,896. I could buy
an apartment in the world's most exciting city for $25,000 - I knew in
an instant that I'd hit the jackpot. For more on buying smart using Currency
Exchange differences see ABC's Of Exchange Controls, International Real
Estate & Foreign Currencies - Click
Here to read ABC's Of Exchange Controls, International Real Estate &
Foreign Currencies - In this issue.
Tall And
Tan
Rio is eleven
miles long - and in most of the best neighborhoods not much more than a
half mile to a mile wide. |
|
|
Offshore
Resources Gallery
|
| Escape
From America Magazine - The Magazine To Read To If You Want To Move Overseas |
| - Began Summer
1998 - Now with almost a half million subscribers, out eZine is the resource
that expats, and wantabe expats turn to for information. Our archives
now have thousands of articles and each month we publish another issue
to a growing audience of international readers. Over 100 people a
day subscribe to our eZine. We've been interviewed and referenced
by the Wall Street Journal, CNN, The Washington Post, London Talk Show
Radio, C-Span, BBC Click Online, Yahoo Magazine, the New York Times, and
countless other media sources. Featuring International Lifestyles
~ Overseas Jobs ~ Expat Resources ~ Offshore Investments ~ Overseas
Retirement - Second Passports ~ Disappearing Acts ~ Offshore eCommerce
~ Unique Travel ~ Iconoclastic Views ~ Personal Accounts ~ Views From Afar
~ Two things have ushered us into a world without borders... the end of
the cold war and the advent of the world wide web of global communications
? commerce. Ten years and over one hundred issues! We're just
getting started - Gilly Rich - Editor |
|
|
| To explain
this odd anomaly, consider that Rio is a city pressed between a steep mountain
and the ocean. The city is long and narrow. The best neighborhoods for
anyone wanting go buy real estate are Flamengo, Jardim Botanico, Ipanema,
Leblon, Copacabana, Lagoa and Santa Teresa. My favorites have always
been Flamengo and Santa Teresa. Flamengo would appeal to most readers,
but Santa Teresa will only appeal to the more adventuresome.
Santa Teresa
Santa Teresa,
one of Rio's oldest neighborhoods, was built on the lower and middle slopes
of Corcovado mountain to escape the heat and humidity of the low lands.
Therefore, it offers majestic views of the harbor, P?o de A??car (Sugar
Loaf,) and the surrounding hills some of which contain favelas. Santa Teresa
is the Bohemian section of Rio de Janeiro, filled with artists, expatriates,
writers and some international fugitives. It was the home of the famous
British train robber Ronnie Biggs, a long time fugitive from British justice.
It is nestled within a set of hills above the center of the city. Picturesque
and village-like, it it is filled with vividly painted turn-of-the-century
houses; spectacular views of downtown, Guanabara Bay, Sugar Loaf, and Corcovado;
and it hosts several cozy restaurants and bars; plus the famous antique
bonde (streetcar) that clatters its way through the winding cobblestoned
streets.
Prices In
Santa Teresa
I visited Santa
Teresa first, and found its streets were romantic and peaceful. Of
all the areas described in the this article, Santa Teresa is the only area
which still has some remnants of Rio's crime problem. Caveat Emptor!
During the day it is a very peaceful neighborhood, but at night people
from the surrounding favelas are said to enter the area and can be a source
of crime. Rio's crime problem is less than a third what it was a
few years ago, and in most ot the areas I visited the crime problem has
been almost totally eliminated. Santa Teresa is going to appeal more
to artist types than to those seeking a luxury apartment.
If you are
an artist type, it is very probable that you are going to want to live
in Santa Teresa. The buildings are older and there are not as many available
as in other areas of the city, hence prices in Santa Teresa are more difficult
to write about. I saw a store front with an apartment behind priced
at BRL80,000 = US$33,200 - It would have made a good coffee house, small
gallery, architects office, or display space for photography. I also saw
a three BR, two bath condominium in a newer building for - BRL110,000 =
US$45,643 - it did not have the ambiance of the older buildings, but it
was more than acceptable. Those wanting something in the Santa Teresa
district are going to have to pound the pavements and do some searching.
Not so for the other areas I am about to describe. The reason for
this is that the choice properties in Santa Teresa are older, separate,
free standing structures that are not part of the mainstream real estate
market. I admit that it is high on my list of preferable areas, because
of it's unique ambiance and artistic feel. My guess is that a desirable
older house is going to cost me around $US75,000 - a price I feel comfortable
with, as prices in this area were around $150,000 to $US200,000 just a
few years ago and will probably go back to that price again when the currency
problems are resolved.
Flamengo
- An Area Reborn
Another of
my favorite neighborhoods is Flamengo, and area where I lived for several
months some years back. There has been a tremendous resurgence in
the Flamengo district, especially in the classy waterfront area.
This area has many older beautiful buildings, sporting excellent architect
(see photos next page) without any of the crime problems of Santa Teresa.
Look at these prices:
-
Classic Building
- Excellent view - large living room, ample kitchen, 2 BR, 3 baths, maids
quarters, garage. BRL120,000 = US$49,800
-
Flamengo Beach
Studio Apartment - large kitchen, bath, view. BRL51,000 = US$21,150
-
Magnificent Location
- living room, den, 2 BR, furnished kitchen, facing park, garage. BRL148,000
= US$61,4000
-
Near Botofogo
Beach - View of P?o de A??car, 3 BR, living room with view, patio balcony,
2 baths. BRL150,000 = US$62,450
-
Panoramic 180
degree view - cinematographic vista of sea and P?o de A??car, 4 BR, 3 baths,
maids quarters, luxurious fixtures and kitchen amenities, double garage,
two full verandahs. BRL320,000 = US$132,800.
There are countless
more. I could list a full webpage of Flamengo properties with prices
just like this. Imagine, a beach front studio apartment in Rio de
Janeiro for $21,000! - Note that beach front in Flamengo doesn't
mean directly on the beach. There is a park between the beach and the residential
area, but what a park! Jogging trails, museums, picnic areas, exercise
areas, and other recreational facilities. Flamengo does not have the flash
of Copacabana; what it does have is a great deal of quiet charm.
More about
Flamengo and other areas of Rio on the next page ~ C
L I C K H E R E There is More about real estate in Flamengo
and other areas of Rio de Janeiro on the next page - |
|
 |
|
Article
Index ~ Brazil
Index ~ |
