!: Rio De Janeiro Apartments - A Guide to Renting and Buying

The number of tourists that come to Rio de Janeiro is steadily growing, the market for apartment rental has accordingly grown as well. Nowadays there are dozens of rental agencies and internet ads offering furnished apartment´for short term lease. Many times they turn out to be a far better deal than staying in a hotel or even a hostel, particularly if you are a few people that will stay for a week or more. How should you go about this to be sure you get a good deal?

Area
First of all it´s very important to remember that the prices in between areas differ a lot, it can even differ significantly between two streets. I have put some common central areas into price brackets so you can get an idea:

More Exclusive: Anything fronting the sea either in Copacabana, Ipanema or Flamengo. The whole neighbourhood of Leblon, Ipanema from the street Vinicius de Moraes until Jardim de Alah. The whole neighbourhood called Lagóa.

Exclusive: Ipanema except in front of the shantytowns (don´t forget to ask!), Copacabana Posto 6, Arpoador, some parts of Flamengo. Laranjeiras and Jardim Botânico.

Mid range: Copacabana all areas accept facing shantytowns and everything around the street Princesa Isabel, Botafogo and Santa Teresa (can be very expensive as well).

Cheap: Catete, Gloria, Humaita.

Budget: Lapa

Standard
Another factor is of course standard. If you´re quering over internet you should ask to see photos. The cheapest options are small studio apartments with simple cooking facilities. The more exclusive ones have porches with swimming pools and gyms in the building. Noise is a problem in Rio so an apartment on the 1st floor can be a lot cheaper than one on the 10th.

Period
This is the most important factor. Over New Years and Carnival prices can go up more than 5 times. There is no real way to avoid this. The cheapest months are April, May, June, October and November.

Renting
Now that you know all this you can start looking. If you´re in Rio for a longer period I recommend that you come here first so you actually can visit the apartment before renting, most likely the deal you get will be better. Exception is for high season when you probably should arrange something well ahead to make sure you actually get somewhere to stay. The best place to look is probably in the newspaper O Globo but there are many agencies that offer it, at higher prices of course. If you´re only here for a week or so you should shop around on the internet and compare the different deals the agencies offer you and go for the best one. Deposit is normal.

Buying Real Estate
Many tourists from Europe and North America come to Rio and fall in love with the city. Since the prices for Real Estate here are reasonable compared to back home many people buy apartments. But how can you know what´s a good deal? What are the rules? How should you go about this in the best way?

Regarding area and standard it´s the same as above. The first thing you need is a lawyer you can trust. There is a fair deal of paperwork you have to go through and missing something may turn out to be really expensive. The second thing to do is to start looking. You have the classified ads in the newspaper O Globo and there are Real Estate Agents all over the place. Compare and study hard, you need patience and a clear head. Remember that some really nice apartments have a low value because of the proximity to a shantytown.

When you finally have found something that you are interested in it´s time for your lawyer to go to work. He needs to check all the paperwork, help you get a so called CPF number (social security number). The actual transfer of the money has to go through Banco do Brasil so that it´s brought legally into the country. There are many people that sell apartments that want to make the deal half "under the table" so they can avoid paying certain fees and taxes, don´t at any terms accept that!

Of course now you wonder how to find that trustworthy lawyer. Well the best way is to get a recommendation from someone you trust. If you have the slightest doubt, find another one.

Good Luck!