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Cosme Velho

Brazil - Rio de Janeiro

29.2°C

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.

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.

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.

Low Season
May 01 - Oct 31

From May to October, the Southern winter is present in Rio. Therefore, the weather will have tempered heat and temperatures could decrease to 15 degrees, which could be considered as fresh. However, it is possible to swim all year long. During this period you will benefit from attractive prices and less crowded places.

High Season
Nov 01 - Apr 30

The period between November and April is the best one to enjoy favorable weather conditions even though the month of December is generally the most rainy one.

Peak Season
Dec 01 - Mar 31

From December to March, the austral summer is present in Rio de Janeiro. During this period, the weather is dominated by heat and the hottest temperatures but these months are the perfect ones for parties. This period is selected by most of visitors to come to Rio de Janeiro, therefore places are crowded and prices are more expensive.

Statue of Christ the Redeemer (O cristo redentor)

This imposing statue is situated on the Corcovado mountain and is not only the symbol of Rio de Janeiro but the symbol of Brazil itself and of Christianism. This statue was firstly imagined by a Catholic priest in 1850 but this project did not see the light of the day until 1920. It took nine years to build this monument. 

Nowadays, the Statue of Christ the Redeemer is one of the Seven Wonders of the world. Its location results from a strategic choice for the Brazilian government who wished the statue would be seen by most of Cariocas. Therefore, they decided to build it on the highest mountain in the surroundings of Rio, the Corcovado. With more than 600,000 tourists every year, it is the most popular monuments in Brazil.

Urca Hill

Urca Hill is a short mountain formation, which only reaches 220 meters of altitude. It is located at the entrance of the Guanabara Bay. From its viewpoint, we can admire old Forts and colonial buildings from the 16th and 17th century, which are now museums. It is also possible to enjoy an impressive view on the Guanabara Bay. There is a cable car which allows to reach the Sugarloaf Mountain.

The Apothecary's square (Largo do Boticário)

The Apothecary's square is a colonial and bucolic place, where stand centenarian trees. There are five Portuguese colonial-style properties, with painted windows and wood balcony. They give a foretaste of the baroque style that can be met in other Rio districts, such as Paraty, Ouro Preto or even Olinda. 

Invaded by vegetation, this charming square hosts a water fountain and gas street lamps. The name of the place comes from a pharmacist (boticário in Portuguese), a certain Mr Da Silva. Various amazing events such as theater shows or music concerts take place on the Largo do Boticário.

The PRESTIGE MLS agents

Frédéric COCKENPOT
Director
Where In Rio
Rio de Janeiro
Discover 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. With the institutional Carnival of Rio, they both represent the main symbols that characterizes...
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