Foreigners are increasing their purchases of compact apartments, known as studios, in the city of Rio de Janeiro, according to real estate companies.
These smaller units, measuring around 30 square meters, have become a source of income for those investing in short-term rentals, including platforms such as Airbnb.
Demand for this type of accommodation has been on an upward trend in Rio amid the tourism boom following the pandemic.
The recovery of tourism activity boosted foreign interest in apartments, as did advances in technology that made transactions easier for people outside Brazil, according to Ernesto Otero, CEO of Lobie, a company specializing in short-term rental property management.
In his assessment, the exchange rate remains favorable for some foreigners, resulting in attractive prices for this group. The dollar is around R$5.
