The Formula One World Championship is the premier global car racing competition. This year’s racing started in Bahrain in March of this year and will feature in 22 cities globally over 9 months.
Last week we mentioned the Euro Football Championship, but we would be remiss if we didn’t mention South America’s 47th Copa America, which is also taking place this month.
Before my trip to Brazil, I heard both positive and negative impressions of the country. Since it was my first time visiting, I was interested to see which kind of experience I’d have. It ended up being a bit of both.
While South American countries have a wet season, the duration and severity vary. Knowing this and having traveled extensively throughout the continent, my February survey delivered some unique experiences. I encountered urban flooding in both Brazil and Paraguay and in both instances the flooding occurred subsequent to a relatively short period of rainfall. Both times also seemed to be a failure of infrastructure more than anything else.
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.