Rent prices in Rio de Janeiro: +18% in 6 months
December 6th, 2009
A crucial reality check to check to which extent real estate selling prices are real is to keep an eye on the rent versus selling prices index.
We checked today the rental prices evolution of the last 6 months in Ipanema, Leblon and Lagoa in Zona Sul. We are not talking bout temporary rental, but long-term local rental prices.
On average, rental prices went up by 18%, the last 6 months, that is 36% on a yearly basis.
The medium monthly rental price for a 3 bedroom appartment is now:
Ipanema: R$ 5.534 (2.128 €)
Lagoa: R$ 3.671 (1.411 €)
Leblon: R$ 5.240 (2.015 €)
By way of comparison, medium selling prices for a 3 bedroom appartment are now:
Ipanema: R$ 967.000
Lagoa: R$ 875.230