Vacant Apartments in Copacabana

Is it just me, or are there a lot more vacant apartments along avenida atlantica in Copa? Walking out in the evening, there are entire buildings without a single light on. Some of these buildings are very high-end. Some might have one or two windows with a light on, but very few seem to be even close to fully occupied. I've never noticed that before.

Probably a reflection of the seemingly unending civil construction that has been going on in Rio and São Paulo especially over the past several years. New starts shot way up and really exceeded the demand. Now that the economy has ground to a hault this vacancy rate will probably just get worse. My bet is that it will see rents drop to all-time lows, and property prices will follow behind shortly too. Looking more and more like the bubble is getting ready to burst.

James      Expat-blog Experts Team.

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