Resicom – Holiday Investment – 04-21 – LB

Music and Passion Always the Fashion in Copacabana

Copacabana is the party capital of Rio de Janeiro, hosting world-beating new year’s celebrations, Rio’s biggest gay pride event, and legendary beach concerts.

The Copacabana area is usually the first port of call for anybody visiting Rio, with its eponymous beach, wide range of hotels, and diverse bars and restaurants.

It is also very well served by public transport to explore the greater Rio area, with three modern metro stations traversing Copacabana: (from West to East) Cantagalo (newly opened in 2007), Siqueira Campos, and Cardeal Arcoverde.

Regular bus services also run to all parts of the city, or there is the option of the official yellow taxis and even the growing presence of Uber.

Despite a reputation for vibrant glamour and luxury, Copacabana appeals to all ages. Over 27 percent of its residents are aged sixty or older, but younger people are now returning as surprisingly Copacabana is cheaper than many other Brazilian districts such as Ipanema, Leblon, and even Botafogo, despite being at the centre of everything.

Many traditional establishments remain, serving up samba music, unpretentious food, and an endless supply of ice-cold refreshments.

The Carioca nightlife is not to be missed. Rua Bolivar by the beach has a variety of lively bars, while at the other end of Copacabana there are many more bars lining the Barata Ribeiro.

Due to the huge popularity of Copacabana with tourists there is a criminal element, with reports of pickpocketing and muggings relatively common. So common sense must be exercised when travelling around the district.

However, a strong police presence can be found on the major streets and along the beach, helping to ensure safety on the main thoroughfares. In addition, almost every building employs a private doorman or security guard to help allay traveller’s fears.

The enduring popularity of Copacabana means a constant stream of potential renters for overseas property investors that choose to invest in the party capital of Brazil.

Most areas in Rio de Janeiro have seen property prices steadily declining since 2015 and Copacabana is no exception. This does mean that properties are now more affordable, with the average square metre price in the district now standing at around R$11,500-12,000 to buy.

This reduced square metre cost makes the average price of a studio or one-bedroom apartment about R$400,000.

Growth has now been spotted in the Brazilian property market, though some experts do not expect property price stabilisation in Rio de Janeiro until 2019.

Others however are predicting a turnaround this year, so it may be time for overseas property investors to look at joining the party.

Where better to join a party than the party capital of Brazil, Copacabana.

Be the first to comment on "Music and Passion Always the Fashion in Copacabana"

Leave a comment

Your email address will not be published.