The square meter price of an apartment cost on average over 3,000 U.S. dollars, with Leblon achieving prices as high as 4,200 U.S. dollars per square meter.

As mentioned, foreign buyers need a CPF or CNPJ to buy property in Brazil legally. The process also requires working with a third-party notary public. In order to close a home sale, both the buyer and seller are required to sign a public deed drawn up by the notary public.

As mentioned before, the average price per sqm in Rio de Janeiro is $2,270. A one-bedroom property (60 sqm) would cost around $136,000, and a two-bedroom (85 sqm) would be about $193,000. However, prices will differ based on the attributes of the property and its specific location.

Summary of cost of living in Rio de Janeiro, Brazil: A family of four estimated monthly costs are 2,310.8$ (11,792.9R$) without rent. A single person estimated monthly costs are 652.0$ (3,327.4R$) without rent. Rio de Janeiro is 63.1% less expensive than New York (without rent).