With that being said, some of the safer favelas near tourist areas in Rio and São Paulo are going through gentrification. Some attempts are being made by ruthless, risky pioneer investors to navigate the complicated processes of favela home purchase, and they are grabbing some of the best views of the city. I recently looked at a place for sale in Vidigal, the favela just west of upscale Leblon, the community right next to Ipanema. David Beckham and supposedly Madonna already bought properties at the top of the favela hill in Vidigal, and trendy restaurants and bars have also opened. Of course, there's also the minor problem of sewage and water piping for you to resolve as a buyer --- and then there's possible resentment from longterm favela residents who feel they may be ignored or even worse, pushed out.
There are other favelas in or near Rio's Zona Sul, like Rocinha further west of Vidagal, Cantagalo near Lagoa and Copa, and Santa Marta near Botafogo, that have mostly gotten rid of the drug trafficking and are ripe for home purchase or rental. There are even several favela apartments for vacation rent on AirBnB.