Even with similar prices as in NY,Paris or Tokyo, large scale investors continue buying property in Rio de Janeiro. Construction giants such as Concal or Mosak, whose specialty is selling high cost property, don´t even bother to set up sales stands in new buildings: by using telemarketing they can sell a complete building in less than a month.
SEE VIDEO OF NEW HOSTEL IN COPACABANA
In 2010, Mosak bought a plot of land in Leblon , built a 24 apartment block (all were 90 square meter units) , that were sold in less than 30 days. The prices ranged from 1.5 million reals to 3 million Reals. The majority of the investors are from São Paulo, Minas Gerais and Rio itself. The forthcoming 2014 Fifa World Cup , 2016 Summer Olympics and the much improved security situation, explain why there is so much interest in investing in this city.In the high season that includes New Year´s fireworks show (the biggest in the world) and Carnival, monthly rentals can reach R15,000 while a day in an apartment can easily cost R1000.
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