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Cosme Velho


Brazil - Rio de Janeiro

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Cosme Velho - Rio de Janeiro

Cosme Velho is a quiet and peaceful small neighbourhood at the foot of the Corcovado mountain, in the South part of Rio de Janeiro. It is well-known for being the start place to go to Christ the Redeemer Statue. This historical district is a splendid place to explore. 

Shaded squares invaded by the jungle, buildings with a colonial architecture, the district of Cosme Velho is covered by a charming atmosphere of the ancient times of Rio. Its winding cobbled streets receive picturesque boutiques, bucolic views and splendid hidden gardens.

Listings in Cosme Velho
Market Overview

Between its luxury neighbourhoods and its forgotten favelas, Rio is the city of a great discrepancy. Between 2008 and 2013, some developers tried to mitigate this gap but instead, they created a true real-estate bubble. Since then, the housing market may have entered in a stable low period despite the 2016 Olympic Games effect.
This growing city is constantly in expansion: with 50,000 inhabitants in the 1980s, it now hosts more than 400,000 cariocas. However, the country is facing a political uncertainty and an economic crisis, which led to a 20% decrease of the housing prices. All these elements seduced foreign investors as the Brazilian currency is weak. Besides, there is a large number of available properties on the market and the possibility to buy them at attractive prices made Brazil a kind of Eldorado with real housing opportunities.

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Buying basics

In Brazil, there are special rules regarding property: – the general rule is that the owner of the soil also owns the subsoil. Owner is able to make vertical constructions up to a reasonable depth, such as to build a basement or a subterranean garage. Owner cannot prevent the use of the subsoil for some activities, such as soil drilling for subway rails, passageway for conduit devices...
Foreign investors have the same rights as local citizens to acquire real estate property, except for special cases (rural lands, mining land, property near the coast or frontier...) and Foreigner with residence in Brazil cannot acquire more than an area equivalent to 50 units of rural property called “módulos rurais”. Foreign entity can only acquire rural property for agricultural purpose, industrialization, and other specific projects, duly approved by the Brazilian Agricultural Ministry or the Department of Trade and Industry.
It is advisable to count with a legal assistance for the acquisition of a real estate in Brazil. The lawyer will verify the certificates and possible burdens or impediments for the acquisition, elaborate all legal documents, and make sure that the transaction is safe for the buyer.

Our most active agent

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Frédéric COCKENPOT

Director at Where In Rio English, French, Portuguese
Rio de Janeiro
Hotspots in Rio de Janeiro

The city of Rio de Janeiro, formerly named "São Sebastião do Rio de Janeiro", was founded in 1565 by Portuguese explorers and was a cornerstone place for naval trade between Brazil, Europe and Africa. It became the capital of Brazil in 1763 after an impressive growth thanks to gold and diamond discovery but let Brazilia have this title in 1960. Nowadays it is a huge megalopolis which receives more than six million of inhabitants, called the "Cariocas". Therefore, it is the second largest city in Brazil. Situated nearby the Atlantic Ocean, the city of Rio de Janeiro is overhung by a rocky peak, called Corcovado, which hosts the Redeemer Statue. 

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