Property in Rio de Janeiro 'has doubled in value'
Date added: 4th November, 2010 at 09:37
(view all articles from November, 2010)
Categories: Property News, Rio
Property in Rio de Janeiro has doubled in value over the last 12 months in some parts of the city, as Brazil prepares to host the 2016 Olympics.
This is according to independent real estate broker Fabricio Negri, who told Property Wire an apartment in the region of Copacabana was on the market for R$285,000 (£104,692), although it was only worth R$140,000 in September last year.
Furthermore, it is expected the value of real estate in the city will continue to rise as regeneration programmes are implemented.
One such scheme, entitled Morar Carioca, will see areas such as Copacabana, Maracana and Leblon improved by 2020, the news provider reported.
As much as R$8 billion will be ploughed into bettering housing and infrastructure in these regions and others.
Senior broker Roberto Pimento told the information source demand for property in Copacabana was already increasing as a result of the plans.
"There are some parts ... [of the region] where prices are very low. It is certain that the prices of these properties will catch up as a result of Morar Carioca," he said.
This news could be encouraging for those considering investing in property in Rio de Janeiro in order to relocate and Shelter Offshore recently claimed expatriates rarely regret their decision to move country.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of property in Rio de Janeiro.
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