Jan 23, 2013

Real estate prices when danger goes away

The average house price in Rio has increased by 165% over the past three years, says the UN. Values have risen faster in favelas where the drug gangs have been pushed out of sight. According to SecoviRio, an association of local real estate agents, property prices rose 50% in the first week after the initial three favelas were taken by police.
From this article by J. Watts in The Guardian.
HT: Fermando Franco.  

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