Build-to-Rent Developments Offer Hope for Rio's Renters

Rio de Janeiro's renters are facing a challenging market, with prices rising by 15% in the past year alone, but a new trend is emerging to offer some relief: build-to-rent developments.

This matters now because the traditional model of buying and renting is no longer sustainable for many residents, particularly in popular neighborhoods like Leblon and Santa Teresa. With the average price of a two-bedroom apartment in Rio reaching R$1.2 million, buying is out of reach for many, and renting often means dealing with short-term contracts and high deposits.

In Rio, companies like Cyrela and Tishman Speyer are investing in build-to-rent projects, offering tenants a range of amenities and services, from rooftop pools to on-site gyms, in desirable locations like Avenida Atlântica in Copacabana and Rua Visconde de Pirajá in Ipanema. The Rio de Janeiro State Government's program, Morar Carioca, is also supporting the development of affordable housing, including build-to-rent projects, in areas like the Port Region and Jacarepaguá.

What Do the Numbers Say?

According to data from the Brazilian Institute of Geography and Statistics (IBGE), the average rent for a two-bedroom apartment in Rio de Janeiro is R$4,500 per month, while the average salary in the city is R$5,300 per month. This means that many renters are spending over 80% of their income on housing, leaving little room for other expenses. In contrast, build-to-rent developments often offer more flexible pricing and lease terms, with some projects starting at R$3,500 per month for a two-bedroom apartment. As of June 2026, there are over 10 build-to-rent projects under construction in Rio, with a total of 5,000 units expected to be delivered by the end of 2027.

So what happens next for renters in Rio? As the build-to-rent market continues to grow, tenants can expect to see more options and better amenities, particularly in up-and-coming neighborhoods like Tijuca and Vila Isabel. For those looking to rent, it's essential to research and compare prices, as well as consider factors like commute time and access to amenities. The Rio de Janeiro City Council's website provides a useful resource for renters, with a database of available apartments and information on tenants' rights. With the right information and support, renters in Rio can find affordable and comfortable housing options, even in a challenging market.