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Rio's property bubble bursts with buildings vacant and rents down

NOT LOOKING GOOD: In Barra da Tijuca, an up-and-coming neighbourhood on the city's outskirts, phone company Tim Participacoes SA was able to negotiate two years of free rent for its new headquarters.

Rio de Janeiro

AT opposite ends of downtown Rio de Janeiro, projects tied to Donald Trump and Eike Batista - one a billionaire-turned-politician, the other Brazil's most famous ex-billionaire - have come to represent the city's real estate bust.

The 23-storey Serrador building, a