Relocation: How much does it cost to rent in Rio de Janeiro?

How much does it cost to rent in Rio de Janeiro?

Although the trend is improving, not all accommodation meets European standards or the safety criteria imposed by companies. It's important to realise that for the penthouse with swimming pool of your dreams, located on the beach in Ipanema, you'll have to pay at least R$30,000.00, if not more!

If you're an expatriate and your company acts as guarantor, you'll be highly sought-after tenants and will have an advantage in negotiations. However, Rio is a city where there are a few multinationals and oil. The upmarket rental market is therefore fairly tight.

The price of your rental will consist of the rent ("aluguel") + condominium charges ("Condominio") + council tax ("IPTU"). Condominio charges are often significant, especially if the building includes 24/7 reception, or even leisure facilities. Normally, all the information you need is provided in the advertisements. Please note that contracts are generally for 30 months and that the price of your rent will be re-evaluated each year by the inflation indices (IPCA -IBGE or IGP-M).

Estimated average rent* per m2 and per district - July 2023

*Prices exclude IPTU and Condominio: add an average of R$20/m2 for an estimate of the price including all charges and taxes.

For a property with exceptional features (seafront, penthouse, terrace, view, etc.), you will need to increase these average prices by at least 20%.

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Sources : Indice FipeZap + IBGE + Horizon Rio