15 to 70mil for apartment at World Cup?

Hi Dan,

Actually no, they're not crazy. In my eleven years here Ive learned that Brazilians are quite accustomed to renting out their apartments and houses during the summer high season (temporada), especially in tourist destinations. Not only do foreign tourists, but also Brazilian tourists routinely pay these inflated prices. In the end they look at the expense as being less than the purchase of a house or apartment that they will only occupy for part of the year.

I see absolutely no reason that the 2014 World Cup or 2016 Olympic Games will be any different at all. You should see Rio de Janeiro. Older buildings that one would think fit only for demolition are being completely refurbished (at great expense) because their owners are well aware that hotels and pousadas clearly will not be capable to handle all the masses of tourists that will arrive for these events.

Clearly not every tourist that comes here can afford this sort of accommodations, but a great many can and over the years have made it evident that they don't really worry about it.

Cheers,
William James Woodward - Brazil Animator, Expat-blog Team

Interesting.  You are right about renting out the apartments, as I've rented many short term rentals.  At regular prices of let's say R$150 to R$250 - similar to a hotel price.

If someone can rent out their apartment for $R 70,000 though, I think that's pretty interesting. 

We've been considering as a business option in the future to buy an apartment in Rio to rent out as short term stays.  We rented from a girl who is renting her small flat in Savassi for double to triple what she could rent out for a long term stay

It's an option, but we probably won't be ready to make a decision for at least another 2 years.

Dan,

Not only a good business idea, but will certainly be very profitable as well.

Another thing worth thinking about is the fact that the Permanent Visa for investors is the easiest to obtain and the minimum investment required is only R$150.000,00 (about $74,000.00 CAD). You need only present a business plan and a few other documents, prove after three years that the initial investment HAS NOT been repatriated and that's about all. For example you buy properties for rentals, your own home could be included in that investment and then you rent it from the company you've created. This is quite commonly done here and it's legal.

Cheers,
William James Woodward - Brazil Animator, Expat-blog Team

Very interesting indeed! 

Thank you for the comment, and I will do some further research.

PM me anytime you want if you would like to pick my brains on the subject. I'll pass you my phone number and you can call me if you're interested in that idea. You will get the most bang for you buck if investing and you'll end up getting a permanent visa. From what I've heard the Ministry of Labor is being really pushed to approve every Investor Visa application where the paperwork is in order.

Cheers,
William James Woodward - Brazil Animator, Expat-blog Team

Hello Virgilio,

Would you kindly read the Brazil Forum Code of Conduct:

https://www.expat.com/forum/viewtopic.php?id=164702

Advertising is not permitted in the open forum. You are invited to place your free ad in the Classified section dedicated to Housing which you will find in the menu bar on the left of the page. Once you have done so would you kindly delete your ad posted here in the forum.

Thankyou for your cooperation.

Cheers,
William James Woodward - Brazil Animator, Expat-blog Team

All right William, sorry about that. I m removing the topic.

Regards,

V.