"Obviously it's all about how much the promoters are willing to spend," the Brazilian driver said.
Indeed, Britain's Daily Mail reveals that F1 chief executive Ecclestone, who has not travelled to the opening two races of the 2013 calendar, has in fact just returned from Rio de Janeiro.
The city's mayor is reportedly "pitching hard" to become the new Brazil GP host.
"The mayor has told me they can get it done," said Ecclestone.
"I have been unhappy with Sao Paulo for a long time. It's a super race track, but the facilities need a big facelift.
"We could be there (Rio) for Olympic year (2016), but I know how hard it was for London to run just the Olympics," he added.
Meanwhile, Ecclestone has expressed interest in extending Malaysia's F1 contract, but told The Star newspaper that organisers need to give Sepang a "paint job".
"It is obviously not the same as Singapore," he said. "Maybe because they don't spend the money."