As expatriates assigned to Brazil search for rental housing, they’ll soon ask an all too common question we get in the Data department at AIRINC: ‘What is IPTU and how much does it cost?' While it can seem confusing at first, we are here to help clarify the details.
Demand has not kept up with the surge of new construction in Brazil. This gap has led to higher vacancy rates and lower or more negotiable rents. Landlords with vacant units are still responsible for expensive maintenance fees and IPTU taxes, and some may be willing to lower the rent to secure a tenant.
As the Americas most populous metropolitan area, traffic in Sao Paulo is infamous, regularly landing on top-ten lists of most hours spent behind the wheel.
After several years of political and economic unrest, many markets are oversupplied, allowing tenants the power to negotiate.
If you are going to all or part of the competition in Rio, you’ll need to know some costs to budget accordingly.