Rio de Janeiro’s Real Estate and Land Investment
Rio de Janeiro is a state located in the south east region of Brazil. It occupies a total area of 43,653 km² and its capital is a city of the same name. Excluding its shore of the Atlantic Ocean, Rio de Janeiro borders the states of Minas Gerais to the north and north west, Espirito Santo to the north east and São Paulo to the South West.
The prominent regions of Rio are Rio de Janeiro City, Nova Iguaçu, Niterói, Duque de Caxias, São Gonçalo, São João de Meriti, Campos dos Goytacazes, Petrópolis and Volta Redonda. The principal rivers of the state are the Guandu River, the Piraí, the Paraíba do Sul, the Macaé and the Muriaé.
Established in 1565, the states development only began in the 17th century with the export of sugar cane, cattle and gold to surrounding areas. In 1763, the state became the headquarters of colonial Brazil which was shortly followed by the first bank of the country (Banco de Brasil), the basis of a media industry, educational establishments, transportation routes and several other infrastructural developments. In 1834, the city was named the capital until this was changed to Brasília in 1960.
Over 50 percent of the state’s economy lies in industry, closely followed by tertiary services and agriculture today. Much global attention has come to the region when the discovery of the Tupi in 2006 and Jupiter in 2008 oil fields were formally announced. As a result, Rio de Janeiro state is now the largest producer of petroleum and gas in Brazil. As well as petroleum, primary exports include other fuels (such as ethanol) as well as chemicals, textiles, metals (mainly steel, iron and tin), glass, processed fish, glass, dairy products, coffee, cachaça (Brazilian rum), livestock, cement and vehicles.
Overflowing with history, architecture and culture, the state offers very attractive features to both the tourist and investor. There are many universities throughout the state, with hundreds of campuses in the various municipalities, offering courses in everything from agricultural studies to computer science and high technology.
The larger and more prosperous cities such as Rio de Janeiro attract citizens from all over the state and country, many seeking well-paid employment or a better life than in their rural towns and villages, but not holding the relevant experience or qualifications. Because of this, favelas (slums) have formed especially in the city of Rio de Janeiro which, while decreasing as the wealth of the country ameliorates, should be carefully observed when investing in land and real estate.