Brazil´s Inflated Favela Rental Figures
The two press clippings below (extracted in December 2011 from Brazil´s Folha newspaper) demonstrate how the rapid growth of property prices in Brazil has filtered through to the country’s favela communities – with rental figures that are very arguably beyond feasible affordability levels of the country´s low income groups. Due to the existence of very few other housing options, most residents do not have any choice but to pay such sums for what are plainly appalling and sub-humane living conditions:
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[...] Speaking to Jorge Ricardo Souza dos Santos – a local broker and administrator – the number of enquiries he is receiving is rising, particularly as more people struggle to afford the high prices of Rio’s south zone (zona sul). Working in the city’s largest favela Rocinha, Santos stated that empty units in the region are rarely empty. An example of a 2 bed unit with a large kitchen, living area and balcony being rented was quoted at R$ 800 per month. We also blogged in January 2011 about a lady living in the Rocinha favela paying R$ 250 for just 9m² of space. [...]