The supply of traditional rental properties in Rio de Janeiro fell 31.8% between 2023 and 2026, driving up prices.
The growth in seasonal rentals, driven by record tourists in 2025, removed properties from the traditional market.
Leblon has the most expensive square meter to rent, while the Center recorded the highest appreciation, at 34.9%.
With high interest rates making it difficult to purchase, rents rose 38.09% in three years, compared to 11.34% of the sales value.
Those looking for a property to rent in Rio de Janeiro have found an increasingly difficult scenario: fewer options available, higher prices and greater competition for properties.
The numbers confirm this perception. Data from the Rio Housing Union (Secovi Rio) shows that the supply of properties for traditional rental fell by 31.8% between 2023 and 2026.
The combination of the reduction in the supply of housing for traditional rental, the growth of seasonal rentals and high interest rates, which make it difficult to buy your own home, has boosted the rental market in practically the entire city.
This is the reality experienced by cultural producer Gustavo Canella. For six years, he has been changing neighborhoods to keep his rent within budget. He has lived in the South Zone, passed through the Center and now lives in the Vila Isabel region. Now, he is looking for a new apartment in Tijuca, but says the search has been frustrating.
"It's desperate to look for a house. You can't find property for the long term, just for the weekend, furnished and with a high price", says cultural producer Gustavo Canella.
According to him, it's been months looking for properties with few options available and prices much higher than expected. Gustavo also reports that many advertisements found on the platforms are intended only for short-term rentals, which further reduces the offer for long-term contracts.
For the vice-president of Secovi Rio, Leonardo Schneider, the reduction in supply helps explain the appreciation in rents in recent years. According to him, fewer available properties mean greater competition for contracts, putting pressure on prices for new tenants. In current contracts, adjustments follow the rates set out in the contract.
Tourism drives short-term rentals
The record number of visitors registered by Rio in 2025 also contributed to this movement. According to City Hall, the city received 10.5 million Brazilian tourists and 2.1 million foreign tourists.
In the assessment of the president of the Association of Directors of Real Estate Market Companies (Ademi-RJ), Leonardo Mesquita, the increase in tourist flow, combined with the resumption of movement at Galeão International Airport, encouraged owners to migrate properties to short-term rental platforms.
"Short-season rentals end up removing properties from the traditional market. With low supply, there is normally an increase in rental values", explains the president of Ademi-RJ, Leonardo Mesquita.
This phenomenon is more evident in the South Zone, where tourist demand is greater. With fewer properties available for traditional contracts, prices end up rising.
Leblon leads the ranking of most expensive rentals
Data from Data Secovi shows that Leblon continues to be the neighborhood with the most expensive square meter of rent in the city: R$129.10. Next come Ipanema (R$ 124.97) and Lagoa (R$ 89.64).
Among the ten neighborhoods with the highest rental prices, eight are in the South Zone. Barra da Tijuca and Centro complete the ranking.
But the pressure is not restricted to the region. Brokers and market representatives say that neighborhoods in the North Zone and West Zone, such as Tijuca, Méier, Vila Isabel, Taquara and Santa Cruz, are also registering strong appreciation.
When the comparison is made by the percentage of increase in rents in the last 12 months, the Center leads, with an increase in value of 34.9%.
Next come Jardim Botânico (31.7%), Lagoa (26.1%), Botafogo (21.9%) and Vila Isabel (18.5%). Among the ten neighborhoods with the highest increase, there are six neighborhoods in the South Zone, in addition to Barra da Tijuca, Taquara, Centro and Vila Isabel.
High interest rates delay home ownership
Experts point out that the basic interest rate also has a strong influence on the market.
With more expensive financing, many families give up on purchasing the property and remain in the rental market. The increase in demand, without equivalent growth in supply, ends up putting even more pressure on prices.
According to the president of Creci-RJ, Wilson Martins, the impact of Selic goes beyond the South Zone and helps explain the appreciation observed in several regions of the city. For him, "living cannot be postponed", and those who cannot buy end up resorting to renting.
While rents registered strong increases, sales prices for ready-made properties grew at a much slower pace.
In the last 12 months, only five neighborhoods appreciated above inflation measured by the IPCA: Centro, Laranjeiras, Copacabana, Flamengo and Leblon.
Even so, properties remain expensive in the most valued areas of the city. Leblon leads the national ranking, with an average square meter of R$26,017, followed by Ipanema (R$24,596).
Rent rises more than three times the pace of sales
A survey of the FipeZAP index shows that, over the last three years, rents grew 38.09%, while property sales prices increased only 11.34%.
For market representatives, this discrepancy precisely reflects the combination of high interest rates, less access to real estate credit and a reduction in the supply of properties for rent.
The flexibility to change cities or neighborhoods, the interest in living in regions where purchasing is financially unfeasible, the increase in life expectancy and the preference for financial investments over purchasing properties have led more people to remain in the rental market.
For the real estate market, the tendency is for pressure on prices to continue as long as the supply of properties for traditional rental remains low and interest rates remain high.
