Guest tomcal Posted November 16, 2015 Posted November 16, 2015 A market which rivaled NYC/Manhatten pricing a year ago to a big dropoff now.. http://www.nytimes.com/2015/11/13/world/americas/in-run-up-to-olympics-rios-property-market-already-looks-hungover.html?&moduleDetail=section-news-2&action=click&contentCollection=Americas®ion=Footer&module=MoreInSection&version=WhatsNext&contentID=WhatsNext&pgtype=article Quote
Badboy81 Posted November 17, 2015 Posted November 17, 2015 Perfect time to invest if you are savvy and have a local person manage the property for you.... Excellent post....Very much appreciated Quote
Members firecat691614502759 Posted November 17, 2015 Members Posted November 17, 2015 Constantly amazed at the stupidity of Governments that bid for the Olympics. Why did Rio need it. They have always been one of the most famous and beautiful cities in the world. It is on the Bucket List of anyone who travels for enjoyment. The ridiculous amounts of money spent and stolen could have done so much better if spent on the problems of Rio caused by crime, unemployment etc. Who knows how much has been stolen by the corrupt politicians ? I think we have to go back to Barcelona to find a city that really benefited from being the Host City. MsAnn 1 Quote
Members RA1 Posted November 17, 2015 Members Posted November 17, 2015 It is for the prestidge and, as you say, the graft, theft, etc. that pols are so well known for. Best regards, RA1 MsGuy and Badboy81 2 Quote
TotallyOz Posted November 17, 2015 Posted November 17, 2015 I almost invested in a condo there about 10 years back. I would have made a killing. Like most places, the markets for real estate go up and down. I'd still love to have a place there but it is just too damn expensive right now. Quote
Badboy81 Posted November 18, 2015 Posted November 18, 2015 Constantly amazed at the stupidity of Governments that bid for the Olympics. Why did Rio need it. They have always been one of the most famous and beautiful cities in the world. It is on the Bucket List of anyone who travels for enjoyment. The ridiculous amounts of money spent and stolen could have done so much better if spent on the problems of Rio caused by crime, unemployment etc. Who knows how much has been stolen by the corrupt politicians ? I think we have to go back to Barcelona to find a city that really benefited from being the Host City. http://www.economist.com/blogs/economist-explains/2013/09/economist-explains-0 Quote
Badboy81 Posted November 18, 2015 Posted November 18, 2015 I almost invested in a condo there about 10 years back. I would have made a killing. Like most places, the markets for real estate go up and down. I'd still love to have a place there but it is just too damn expensive right now. Did you read the post that Tomcal posted? Now is an excellent time to purchase a condo in Rio is you are savvy...prices are at an all time low and inventory is plentiful... Quote
Members SolaceSoul Posted November 18, 2015 Members Posted November 18, 2015 After the 2016 Olympics will be an even better time to buy, because it's going to get a whole lot worse there economically before it gets any better. Whatever is left of their big artificial bubble that is now being propped up now just for show will burst sometime after the Games. Signed, Wall Street-based Investment Analyst ferrar and JAYBLK 2 Quote
Guest inkaras Posted November 19, 2015 Posted November 19, 2015 Firecat69 - London was an absolute success. Prior to Olympics we had same moans here saying we are wasting our money during recession. You don't hear those voices now. Olympics resulted in unprecedented boom in tourism that this city has never seen. London made billions in past few years: hotel prices sky-rocketed, restaurants and museums saw huge increase in numbers. You may question whether cities like London need Olympics to make it visible, but it is a proven fact now. As long organizing cities do everything right, it wont be long until they reaping benefits of they investment. We all know about Rio, New York or Tokyo, but people constantly need to be reminded. They watch sport events followed by images of sights and think: oh, I would love to visit. People were saying same thing about Brazil's world cup, but when I visited earlier this year, a number of people I met told me that the world cup brought their attention to Brazil and encouraged them to make a visit. I'm pretty sure Brazil will make money out of this, too. And btw, poor state of Brazilian economy benefits you lot. Your dollars, euros or pounds go much further than a couple of years ago. And as unemployment gets worse, it will push even more guys into your arms and make prices of garottos more competitive. Someone's misery and lack of opportunities means other people's gain. Brutal but true. Quote
Members firecat691614502759 Posted November 20, 2015 Members Posted November 20, 2015 Honestly I can't argue about London because you apparently know it better. However having visited it many times over the last 40 years it has always been one of the most expensive cities in the World for Hotels, Restaurants and Real Estate . If as you say some of those things sky rocketed , it probably has more to do with a city coming out of a world wide Western Recession, more then the Olympics. Also the Chinese have fueled real estate prices in Prime Cities which I doubt had much to do with the Olympics The other thing I would guess is that much of the infrastructure needed was already in existence , so that as a % of GDP London had to spend much less to host the Olympics then Rio is doing and they are doing it on the backs of a huge population that is in abject poverty. London still spent over 3x the original budget but Rio is already over 4x the original Budget and higher in total spending then London and it will only go higher. Oh and by the way tourism in 2013 increased by about 8%. Not such an astounding figure. Also need to keep in mind that London has been the #1 destination for many years . London gets anywhere from 7x to 8x the number of tourists per year that Rio does. In fact Rio does not even make the Top 20 for visitors. And yet they will spend more money then London did . There are some politicians who will get rich and a few developers, but the average Rio citizen is not likely to see much change in their lives. The money could have been spent in much better places then hosting an Olympics . IMHO As fare as it benefiting Sex visitors . Since it has always been one of the cheapest Sex Destinations, I can see little advantage in real terms. Currency changes are what causing US visitors to benefit and has nothing to do with money mis-spent or not on the Olympics. Quote
Guest tomcal Posted November 20, 2015 Posted November 20, 2015 just a point regarding it benefiting sex workers. I have mentioned it in the past, I know all 3 owners of the Rio saunas well and also the owners of Lagoa in Sao Paulo and Mezzaniu in Porto Alegre, and all have said that foreign customers make up less then 2% of their revenues and in the case of Mezziniu less then 1%.* (which is probably why our complaints are not given much weight!) they make their money serving the local customers. Which is why they are not doing well now! The local economy is so bad, that the locals who would come in once or twice a WEEK, now come once or twice a Month. By next year the number of saunas could go down if the economy stays bad! Two of them have their leases expiring next year in 2016 and it will be possible one or more might now renew. * the exception to the % of revenue from foreign customers was slightly affected last month at lagoa....my bill at the end of the night on a Saturday night there was $800R ($200. U.S.) and that was just the tab for rooms/food and drinks, did not include what I paid the guys... and worth every dollar!! I was there from 5:30 to midnight and one of the most memorable nights in the past 14 years of going there! I was just looking at some of the videos and photos of that trip to see who I wanted to meet up with on my next trip in two weeks! Quote
Members RA1 Posted November 20, 2015 Members Posted November 20, 2015 Never mind the Olympics or the locals, TC is supporting the saunas all by himself. Obvously, we all need to join him so he won't go broke. Best regards, RA1 JKane and Cany10011 2 Quote
Badboy81 Posted November 21, 2015 Posted November 21, 2015 just a point regarding it benefiting sex workers. I have mentioned it in the past, I know all 3 owners of the Rio saunas well and also the owners of Lagoa in Sao Paulo and Mezzaniu in Porto Alegre, and all have said that foreign customers make up less then 2% of their revenues and in the case of Mezziniu less then 1%.* (which is probably why our complaints are not given much weight!) they make their money serving the local customers. Which is why they are not doing well now! The local economy is so bad, that the locals who would come in once or twice a WEEK, now come once or twice a Month. By next year the number of saunas could go down if the economy stays bad! Two of them have their leases expiring next year in 2016 and it will be possible one or more might now renew. * the exception to the % of revenue from foreign customers was slightly affected last month at lagoa....my bill at the end of the night on a Saturday night there was $800R ($200. U.S.) and that was just the tab for rooms/food and drinks, did not include what I paid the guys... and worth every dollar!! I was there from 5:30 to midnight and one of the most memorable nights in the past 14 years of going there! I was just looking at some of the videos and photos of that trip to see who I wanted to meet up with on my next trip in two weeks! What in the world did you eat and drink that ended up being $200 US? Or maybe the question is HOW MANY guys did you wine and dine....that is a lot by Brazil standards for a full evening out of drinking and eating.... Glad you had the time of your life though.... For some reason, the more I go to Rio, the less I tend to spend...I have noticed the trend over the years....when I first started traveling I would spend hundreds of dollars...My last trip in Oct/November I spent a lot less than I had actually budgeted for.... ihpguy 1 Quote
Members ferrar Posted November 22, 2015 Members Posted November 22, 2015 After the 2016 Olympics will be an even better time to buy, because it's going to get a whole lot worse there economically before it gets any better. Whatever is left of their big artificial bubble that is now being propped up now just for show will burst sometime after the Games. Signed, Wall Street-based Investment Analyst This ^^^^ Like a number of forum members I engaged in residential real estate purchases here just over a decade ago. At the time, less for potential capital appreciation and more as a hedge against inflation. Personally I would steer clear of the present real estate markets absent around a 40% correction through some combination of both currency and price depreciation. Even in today's deteriorating economic conditions that could take awhile to play out given sellers' notorious reluctance to lower asking prices. JAYBLK 1 Quote
Members scott456 Posted January 7, 2016 Members Posted January 7, 2016 I almost invested in a condo there about 10 years back. I would have made a killing. Like most places, the markets for real estate go up and down. I'd still love to have a place there but it is just too damn expensive right now. Not just Rio. If you had bought a proprty anywhere in the world 8 years ago, you would have easily doubled your investment. Quote
Members scott456 Posted January 10, 2016 Members Posted January 10, 2016 Did you read the post that Tomcal posted? Now is an excellent time to purchase a condo in Rio is you are savvy...prices are at an all time low and inventory is plentiful...I am also thinking about buying a small studio or 1 br condo in Rio (Copa/Ipenema). The problem is I don't speak Portuguese and have no local friends there.Guess I will continue to stay at rentals when I am there. Quote
Badboy81 Posted January 11, 2016 Posted January 11, 2016 I am also thinking about buying a small studio or 1 br condo in Rio (Copa/Ipenema). The problem is I don't speak Portuguese and have no local friends there. Guess I will continue to stay at rentals when I am there. You could always learn Portuguese and research the process for foreigners purchasing property in Rio..... Quote
