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Real Estate Market Report
Residential Property Prices in Rio de Janeiro April 2023
According to the latest report from the Secovi Rio Research and Information Analysis Center, the residential square meter price for sale in Leblon, Rio de Janeiro, remains the most expensive in the city, reaching R$22,276 with a 0.4% increase. As for rental prices, there was a 36% variation, reaching R$93.25. These figures were updated with February data and show indicators of the value per square meter offered for sale and rent in the city and its regions.
The average residential square meter value for sale in the municipality was R$9,241, with a -0.8% variation compared to the previous month. The types of properties were also surveyed, and apartments were the most sold and rented in February, with approximately 72.9% of sales and 75.1% of rentals.
The South Zone remains the area of Rio where the highest square meter properties are concentrated. In the West Zone, the highest price per square meter for sale was registered in Barra, reaching R$11,949 with a 3.7% variation. Campo Grande had the lowest sale value at R$3,808. As for rentals, the scenario remains the same, with the highest price in Barra (R$55.96) and the lowest in Campo Grande (R$16.21).
In the North Zone, Tijuca had the highest price at R$6,793 with a -2.2% variation. The rental price reached R$25.61 per square meter in the area. Madureira had the lowest values in the region, with R$3,310 for sale and R$16.03 for rent. These figures give valuable insight into the current real estate market in Rio de Janeiro and can assist buyers and renters in making informed decisions.
Frequently Asked Questions
As of February 2023, the average price per square meter for residential property in Rio de Janeiro is R$9,241. However, prices can vary significantly by neighborhood and property type.
The Leblon neighborhood is currently the most expensive neighborhood in Rio de Janeiro, with an average price per square meter of R$22,276 for residential property for sale.
Apartments are the most commonly sold and rented type of property in Rio de Janeiro, accounting for approximately 72.9% of sales and 75.1% of rentals in February 2023.
The Zona Sul (South Zone) of Rio de Janeiro is known for having the highest property prices, while the Zona Oeste (West Zone) has a mix of high and low prices. The Barra neighborhood in the Zona Oeste has the highest average price per square meter for residential property for sale at R$11,949, while Campo Grande has the lowest at R$3,808. In terms of rentals, Barra also has the highest average price per square meter at R$55.96, while Campo Grande has the lowest at R$16.21.
As of February 2023, the average price per square meter for residential property in Tijuca is R$6,793, while the average price per square meter for residential property in Madureira is R$3,310. However, it’s important to note that prices can vary by property type and other factors.
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