London Olympics Leads To House Price Boom
House prices in the 14 postal districts in East London closest to the Olympic Park have risen from £206,191 in July 2005 to £334,132 in March 2014. In the build up to the 2016 Olympics, investors will be keeping a close eye on Rio de Janeiro looking for similar trends.
Attention now turns to the 2016 Olympics in Rio de Janeiro. Unlike in London, the area which will hold the Olympic Park is not going to be the main beneficiary of regeneration. Barra da Tijucain the south west is already an affluent area, holding just 5% of Rio’s population but paying 30% of its taxes. Highly sought after for luxury developments, but with limited space, real estate values are expected to continue on an upward course for some time, independent of the impact of the Olympic Games.
Like London, the regeneration of Rio de Janeiro for the Olympic Games already looks to be providing a plethora of exciting opportunities for property investors, with the best still to come.