Rio Oil Rush: Relocation and Real Estate

With the recent oil rush in Brazil, Rio de Janeiro has emerged as one of the most sought after destinations for corporate relocation. However, relocation in any case always involves lots of time, energy and money in finalizing a suitable apartment alone. The demand for rental apartments and corporate relocation agencies in Rio is soaring high. Even the corporate relocation agencies are doing their best to offer state-of-the-art-facilities to their customers and be visible in their business. One such agency, with an office in New York City, which has carved a niche for itself in catering the rental apartments in Rio, is Rent In Rio. 

“Our relocation specialists will assist you in every step of the whole relocation procedure: finding suitable schools for the children, Portuguese lessons for the family, to hiring a car for yourself whilst you are getting to know our marvelous city. Our agency will also gladly assist you in finding suitable temporary or long term accommodation and will walk you through all the necessary paperwork and documentation that is required,” says Daniel Babush, President of Rent in Rio.com. “ We have Studios, 1,2,3,4 and 5 Bedroom apartments as well as penthouses. We can assist with temporary and long-term rentals whether furnished or unfurnished. We have successfully relocated numerous employees from oil companies, the diplomatic community and other blue chip companies.” Babush says.

Rodrigo de Azeredo Santos, head of Brazil’s Trade Promotion Programs Division of the Ministry of External Relations has said in an interview that Brazilian oil reserves, biofuels and availability of hydroelectric power generation are added guarantees that Brazilian property investment is safer due to the assurance that energy will be available to sustain the economic growth. The oil discoveries are so important for property investors in Brazil as similar oil boom in Dubai and Norway have regularly seen their property market post record price increases annually.

Brazil’s property market is now in good shape for overseas investors. According to Jose C. Santiago, licensed and certified attorney of law in Brazil in his portal LawOfficeInBrazil.com has stated that the country is a buyer’s market, with low prices because there are more homes for sale than there are buyers. The demand for property in Brazil is expected to increase by approximately 900,000 units each year.

Overseas investors looking for good property returns with relatively low-entry costs may consider investing in Brazil following the oil discovery, which may strengthen the country’s economy and in turn raise property prices. Business week has reported that Brazil is a smart place to invest. It is a self-reliant country on the energy front, a position that has been further strengthened by the recent discovery of new oil fields.

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