Vacation Rentals World Cup 2014 In Brazil Prices Could Hit $150,000 Per Month During FIFA Event

Between June 12 and July 13 of 2014, some 600,000 international visitors and three million local tourists are expected to descend onto Rio de Janeiro when Brazil hosts the World Cup. They ought to start booking their lodging now. Hotel industry officials in the city are saying they're not worried about having enough hotel rooms available for foreign visitors. But Rio Times, an English-language newspaper based in the city, has reported that demand for apartments and other forms of more spacious lodging is putting prices through the roof on the upper end: penthouse apartments in the swankier parts of town will be going for an average of $150,000 for just four weeks of rental.

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Other, less luxury sorts of accommodations will go for a bit less. But even a one-bedroom apartment in Copacabana - something many foreigners in town for the Cup might not consider an unreasonable option - is going for $7,000 for four weeks. Some property owners are asking for a 50 percent deposit up front, and putting that money toward carrying out renovations on their properties.

Many property owners looking to rent out their places are holding out on putting it on the market just yet, with the World Cup almost a year away. And some who live in the city are weighing whether or not they want to rent out a space within their homes. The Rio Times quotes one resident, Eliza Siga, who is resisting the temptation.

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"I would rent to a friend of a friend, but I don't want someone who I don't know in my apartment with all of my things," she said. "They could ruin my flat, and they aren't from here, so they might not be respectful of my building or my neighbors."

Other residents say they'd rather host friends and family in town for the event instead of using the space to make a quick buck.

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"We have so many friends that want to come here for the World Cup," said British School teacher Peter Stanton. "You don't charge your friends rent. It's nonsense."

The Los Angeles Times reports that Rio plans to dock six cruise ships in Guanabara Bay to house tourists as well as add 22,000 hotel rooms by the time the event rolls around.