Real Estate Market Report
Residential Property Prices in Rio de Janeiro April 2023
According to the latest report from the Secovi Rio Research and Information Analysis Center, Leblon continues to have the highest residential price per square meter for sale in Rio de Janeiro.
In February, the sale price in Leblon reached R$22,276 per square meter, reflecting a 0.4% increase. Meanwhile, rental prices in the neighborhood rose sharply. They recorded a 36% variation, reaching R$93.25 per square meter. These updated figures highlight Leblon’s position as the most expensive residential area in the city.
Across the entire municipality, the average residential sale price reached R$9,241 per square meter. Compared to the previous month, this figure represents a 0.8% decrease.
In addition, Secovi Rio analyzed property types. Apartments dominated the market in February. They accounted for 72.9% of sales and 75.1% of rental transactions. Therefore, apartments remain the preferred choice for both buyers and renters.
The South Zone continues to concentrate the highest-priced properties in Rio de Janeiro. As a result, it remains the most valued area in the city.
In the West Zone, Barra da Tijuca recorded the highest sale price per square meter. In February, prices reached R$11,949, showing a 3.7% increase. In contrast, Campo Grande registered the lowest sale price in the area, at R$3,808 per square meter.
Rental prices follow a similar pattern. Barra da Tijuca leads the West Zone with an average rent of R$55.96 per square meter. Meanwhile, Campo Grande shows the lowest rental value, at R$16.21 per square meter.
In the North Zone, Tijuca recorded the highest sale price per square meter. Prices reached R$6,793, despite a 2.2% decrease. At the same time, rental prices in Tijuca averaged R$25.61 per square meter.
Madureira presented the lowest values in the region. Sale prices stood at R$3,310 per square meter, while rental prices averaged R$16.03 per square meter.
Frequently Asked Questions
As of February 2023, the average price per square meter for residential property in Rio de Janeiro is R$9,241. However, prices can vary significantly by neighborhood and property type.
The Leblon neighborhood is currently the most expensive neighborhood in Rio de Janeiro, with an average price per square meter of R$22,276 for residential property for sale.
Apartments are the most commonly sold and rented type of property in Rio de Janeiro, accounting for approximately 72.9% of sales and 75.1% of rentals in February 2023.
The Zona Sul (South Zone) of Rio de Janeiro is known for having the highest property prices, while the Zona Oeste (West Zone) has a mix of high and low prices. The Barra neighborhood in the Zona Oeste has the highest average price per square meter for residential property for sale at R$11,949, while Campo Grande has the lowest at R$3,808. In terms of rentals, Barra also has the highest average price per square meter at R$55.96, while Campo Grande has the lowest at R$16.21.
As of February 2023, the average price per square meter for residential property in Tijuca is R$6,793, while the average price per square meter for residential property in Madureira is R$3,310. However, it’s important to note that prices can vary by property type and other factors.
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