The 2016 Olympic Games will be held in Rio de Janeiro, Brazil. The games will be mostly concentrated in the city of Rio except for the Soccer games which will also be in other cities.
As a DSP we are already feeling the impact of the Olympic Games being held in Brazil. It is important to note that for DSP services, ideally Home Finding trips and other services should not be scheduled during the Games as it will be quite difficult to coordinate a productive service.
Now as for the rental market, the values have been hugely impacted. Some serviced apartments are at an average up to 280% higher in the period of August (for example, a rental apartment that costs R $ 6,800.00 per month will cost R $ 19,000.00 in August), noting that the profile of this property is one-bedroom, furnished with 60m2.
As for availability, other than the exceptionally high prices, it is difficult to find apartments or apart-hotels without a reservation or that have already been rented. Normal long-term apartments are also being rented very quickly and it is quite difficult to find furnished options because the owners, who usually only agree to rent for 30 month contracts, opened the range to rent for short term during the Olympics.
At the moment, Rio de Janeiro is going through several renovations and constructions, such as the subways, not only in Barra de Tijuca where the games will take place, but also in the center. The current traffic is already chaotic. With this being said, the mayor of Rio de Janeiro has decreed partial holidays on the following days: 5th, 18th and 22nd of August so that the traffic flows better. The dates mentioned above were based on the beginning of the games on August 5th, the end of the games August 22nd, where more than 100,000 people will be headed to the International Airport returning to their destinations, and the 18th was based on the fact that day a Triathlon will be held.
Below please find some links with further information about the holidays mentioned, be sure to check back for updates:
• Comparative Cup Olympics x (to give the size of the impact that will have in the city)
• Reporting on the holidays and transport schemes
For further information regarding the Olympic Games, you can check out the official website:
Written by LARM Brazil