With the 2013 FIFA Confederations Cup and the World Youth Day in the past, the temporary rental market has already started to set sights on the 2014 World Cup. Although the city of Rio says they have enough hotel rooms available, many visitors are looking for more space and the comforts of home while in Rio.
World Cup organizers, FIFA and other major sponsors, have already reserved hotel space in bulk as well. No one doubts that from June 12 to July 13, 2014, accommodations in Rio will be extremely scarce, with many reliant on temporary property rentals.
Renting a temporary apartment in Rio means either going through a personal connection or finding arental agency based in Brazil. So far, many property owners were unwilling to set prices for their rental properties, wanting to take full advantage of the earnings opportunity, as they expected prices to increase as the event neared.
However, now that the Confederations Cup is over and the World Cup itself less than a year away, interest in rentals is rising and the market is beginning to show discernible form. One Rio resident who works in property management told The Rio Times he closed a deal to rent his own Copacabana a studio apartment for US$7,000 (R$14,000) for four weeks during the World Cup period.