First post from Rio de Janeiro

M

meadow.far

Property investor
New-build flats are my main interest at the moment, although renovation costs and ongoing property management may affect whether they really offer better value. I’m in Rio de Janeiro and trying to build comparisons from transaction costs and credible sale evidence rather than relying on listing impressions alone.

Where would you begin here: the local board, a discussion on market data, or a first-buyer checklist? I’d also welcome pointers on how members account for management and renovation when comparing properties across different markets.
 
Welcome. I’d begin with the local board, but focus on discussions that explain how their figures were collected. Asking prices and completed prices are easily mixed, especially when dates, unit condition and included extras differ. A useful comparison needs the same definitions before it needs more data.
 
Are you preparing for a first purchase, or mainly building an investment model? That changes what to read first. A buyer may need transaction and legal checklists early, while an investor also has to examine management costs, financing and likely holding periods. It would also help to know whether you want to stay strictly with new builds.
 
I wouldn’t make completed-price data the sole starting point for new builds. Two apparently similar flats can have different payment timing, specifications or included items, so the headline discount may not be comparable. I’d make a simple table recording the advertised price, completion date, unit details, payment structure, transaction costs and anything bundled into the deal.
 
That table is sensible, although some fields will remain unknown to an outside observer. I’d keep confirmed figures separate from assumptions rather than filling every blank with an estimate. For cross-market reading, compare the process and cost categories first; direct price comparisons between cities or countries can create more noise than insight.
 
For investment modelling, I’d also separate the property case from the mortgage case. First test the flat using the full purchase cost, ongoing management, maintenance and a realistic exit assumption. Then layer in different financing terms. Otherwise an attractive mortgage comparison can disguise a weak property, or an expensive loan can make a reasonable property look inherently poor.
 
If resale flats may enter the search later, keep renovation discussions in a separate section of the model. Renovation uncertainty is a different problem from a new-build price gap and can overwhelm the comparison. On legal checklists, use forum posts to identify questions, but confirm the current Rio-specific answers with an appropriate local professional before relying on them.
 
Thanks all. This has clarified the order for me: I’ll start on the local board, define what counts as an advertised and completed price, and build a table that separates confirmed numbers from assumptions. My immediate focus is new-build investment modelling rather than a first home, so I’ll keep financing and property performance separate. I’ll leave resale renovation comparisons for later and return with a narrower Rio question once I have a sample.
 
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