Real Estate Investments in Santa Teresa, Rio
Santa Teresa, one of Rio's oldest neighbourhoods, once used to be the most elite area of the city, high on a hill, just on top of the city center, with great views to the sea and the bay.
The neighbourhood features many great mansions and castles with stunning, rich Portuguese style. When in the 60's-70's, the upper class started moving to the (then) modern areas like Ipanema, Santa Teresa became a little rundown, although it stayed the favourite of the intellectual and artistic elite.
Today, the area is being rediscovered; many homes are being restored; restaurants, galleries and antique shops are opening; and the area is starting to become part of the touristical route in Rio.
There is no doubt that prices will go up considerably in the next few years.
The area is conveniently located 5 minutes from Rio's downtown/business district, and the old, wooden tramway (which is a tourist attraction by itself, featured in many tourism guides!) takes you up or down for 0.1 real in 3 minutes; and only 20 minutes from Ipanema.
Located high on a hill, surrounded by other hills like the one featuring the famous Christ's statue, the area enjoys cooler, fresher air than most of Rio and it offers an oasis of peace and quiet just inside Rio.
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